Retirement Systems of Alabama Acquires 85,080 Shares of Weatherford International plc (NASDAQ:WFRD)

Retirement Systems of Alabama grew its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 94.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,369 shares of the company's stock after acquiring an additional 85,080 shares during the quarter. Retirement Systems of Alabama owned 0.24% of Weatherford International worth $14,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Franklin Resources Inc. grew its position in shares of Weatherford International by 63.3% during the 3rd quarter. Franklin Resources Inc. now owns 461,790 shares of the company's stock worth $43,007,000 after purchasing an additional 179,064 shares in the last quarter. Tidal Investments LLC grew its position in Weatherford International by 39.3% during the third quarter. Tidal Investments LLC now owns 7,173 shares of the company's stock worth $609,000 after buying an additional 2,022 shares in the last quarter. Virtu Financial LLC bought a new position in Weatherford International during the 3rd quarter worth $571,000. Vestcor Inc raised its holdings in Weatherford International by 131.7% in the 3rd quarter. Vestcor Inc now owns 13,763 shares of the company's stock valued at $1,169,000 after acquiring an additional 7,823 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Weatherford International by 59.4% during the 3rd quarter. Barclays PLC now owns 31,349 shares of the company's stock valued at $2,663,000 after acquiring an additional 11,680 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.60% of the company's stock.

Weatherford International Trading Down 3.1 %

Weatherford International stock traded down $2.35 during trading hours on Monday, hitting $73.74. The stock had a trading volume of 902,543 shares, compared to its average volume of 898,568. The business's 50 day simple moving average is $83.85 and its 200-day simple moving average is $100.02. Weatherford International plc has a one year low of $73.55 and a one year high of $135.00. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 EPS. On average, equities analysts predict that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, November 6th. Weatherford International's dividend payout ratio (DPR) is presently 14.04%.

Analyst Ratings Changes

A number of research analysts recently commented on WFRD shares. Evercore ISI dropped their price target on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Benchmark reaffirmed a "buy" rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Bank of America reduced their price target on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut Weatherford International from a "buy" rating to a "neutral" rating and cut their target price for the stock from $132.00 to $98.00 in a research note on Friday. Finally, Barclays decreased their price target on Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of "Buy" and a consensus price target of $140.50.

Weatherford International Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.