Stifel Financial Corp Sells 18,882 Shares of Weatherford International plc (NASDAQ:WFRD)

Stifel Financial Corp reduced its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 70.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,768 shares of the company's stock after selling 18,882 shares during the quarter. Stifel Financial Corp's holdings in Weatherford International were worth $660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFRD. GAMMA Investing LLC boosted its holdings in shares of Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock worth $44,000 after buying an additional 141 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Weatherford International by 20.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company's stock worth $129,000 after purchasing an additional 182 shares during the period. KBC Group NV raised its stake in Weatherford International by 10.4% during the 3rd quarter. KBC Group NV now owns 1,945 shares of the company's stock valued at $165,000 after purchasing an additional 184 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Weatherford International by 26.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company's stock valued at $116,000 after purchasing an additional 200 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of Weatherford International by 7.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company's stock valued at $255,000 after purchasing an additional 203 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was 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 owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company's stock.

Weatherford International Stock Down 0.1 %

Shares of Weatherford International stock traded down $0.04 during midday trading on Thursday, reaching $68.03. 398,475 shares of the company's stock traded hands, compared to its average volume of 905,744. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. Weatherford International plc has a 52 week low of $66.23 and a 52 week high of $135.00. The company's 50 day simple moving average is $80.06 and its 200 day simple moving average is $97.72. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned $1.66 earnings per share. Equities analysts expect that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.47%. Weatherford International's dividend payout ratio (DPR) is presently 14.04%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group lowered Weatherford International from a "buy" rating to a "neutral" rating and dropped their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Bank of America dropped their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Benchmark restated a "buy" rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Piper Sandler began coverage on shares of Weatherford International in a research report on Thursday, December 19th. They set a "neutral" rating and a $87.00 price objective on the stock. Finally, Barclays cut their target price on shares of Weatherford International from $147.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.25.

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.