Weatherford International plc (NASDAQ:WFRD) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co decreased its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 93.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,449 shares of the company's stock after selling 46,935 shares during the period. Paloma Partners Management Co's holdings in Weatherford International were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in WFRD. Farther Finance Advisors LLC raised its stake in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock worth $30,000 after purchasing an additional 281 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Weatherford International in the third quarter worth about $34,000. Fifth Third Bancorp lifted its holdings in Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company's stock valued at $44,000 after acquiring an additional 85 shares during the period. GAMMA Investing LLC boosted its stake in shares of Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company's stock worth $44,000 after acquiring an additional 141 shares in the last quarter. Finally, Park Place Capital Corp increased its position in shares of Weatherford International by 1,516.2% during the third quarter. Park Place Capital Corp now owns 598 shares of the company's stock worth $51,000 after purchasing an additional 561 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFRD shares. Citigroup lowered their target price on Weatherford International from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Evercore ISI dropped their target price on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Barclays cut their price objective on Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Bank of America reduced their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Weatherford International currently has an average rating of "Buy" and an average target price of $147.29.

Weatherford International Price Performance

WFRD traded down $5.85 during midday trading on Friday, reaching $76.87. 381,103 shares of the company's stock were exchanged, compared to its average volume of 901,147. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The business's 50-day moving average price is $85.39 and its 200 day moving average price is $102.31. The stock has a market capitalization of $5.58 billion, a PE ratio of 11.62, a P/E/G ratio of 0.72 and a beta of 0.58. Weatherford International plc has a 1-year low of $76.85 and a 1-year high of $135.00.

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

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, November 6th. Weatherford International's payout ratio is 14.04%.

Insider Buying and Selling at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares of the company's stock, valued at $932,764.80. The trade was a 35.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

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.