Geode Capital Management LLC Sells 5,129 Shares of Weatherford International plc (NASDAQ:WFRD)

Geode Capital Management LLC lessened its holdings in Weatherford International plc (NASDAQ:WFRD) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,325,402 shares of the company’s stock after selling 5,129 shares during the period. Geode Capital Management LLC’s holdings in Weatherford International were worth $112,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WFRD. Farther Finance Advisors LLC increased its holdings 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 valued at $30,000 after purchasing an additional 281 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Weatherford International during the 3rd quarter worth about $34,000. Millburn Ridgefield Corp acquired a new position in Weatherford International in the 3rd quarter valued at about $42,000. Fifth Third Bancorp raised its holdings in Weatherford International by 31.0% in the 2nd 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. Finally, GAMMA Investing LLC lifted its position in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Transactions at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on 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 directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Weatherford International Stock Down 2.9 %

WFRD stock opened at $71.62 on Wednesday. The company has a market cap of $5.20 billion, a PE ratio of 10.06, a price-to-earnings-growth 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 plc has a 52 week low of $71.13 and a 52 week high of $135.00. The business has a 50-day simple moving average of $83.46 and a 200 day simple moving average of $99.68.

Weatherford International (NASDAQ:WFRD) last issued 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 the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. Sell-side 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. Stockholders of record on Wednesday, November 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. Weatherford International’s payout ratio is 14.04%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Bank of America lowered their price objective on 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 shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Barclays lowered their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI cut their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weatherford International currently has an average rating of “Buy” and an average 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.