Tidal Investments LLC Acquires 14,537 Shares of Weatherford International PLC $WFRD

Tidal Investments LLC grew its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 19.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 89,847 shares of the company’s stock after acquiring an additional 14,537 shares during the quarter. Tidal Investments LLC’s holdings in Weatherford International were worth $7,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WFRD. TD Private Client Wealth LLC boosted its stake in shares of Weatherford International by 4.2% in the 4th quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after purchasing an additional 130 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Weatherford International by 24.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after purchasing an additional 137 shares during the period. Corient Private Wealth LLC raised its position in Weatherford International by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $385,000 after purchasing an additional 146 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Weatherford International by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after purchasing an additional 151 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD opened at $88.85 on Friday. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a 50-day moving average price of $88.66 and a 200-day moving average price of $95.08. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. Weatherford International PLC has a 12 month low of $60.84 and a 12 month high of $113.15.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 earnings per share. As a group, equities analysts anticipate that Weatherford International PLC will post 5.22 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th were issued a $0.275 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.10 annualized dividend and a yield of 1.2%. Weatherford International’s dividend payout ratio (DPR) is 21.70%.

Insiders Place Their Bets

In other news, Director Neal P. Goldman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the transaction, the director directly owned 12,187 shares of the company’s stock, valued at approximately $1,033,945.08. The trade was a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacqueline C. Mutschler sold 4,094 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the transaction, the director owned 29,093 shares of the company’s stock, valued at approximately $2,632,916.50. This represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,094 shares of company stock worth $2,244,487. 2.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WFRD has been the subject of several analyst reports. Raymond James Financial cut their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Barclays lowered their target price on Weatherford International from $154.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, UBS Group upgraded Weatherford International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $113.00 to $114.00 in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus target price of $114.25.

Weatherford International Profile

Weatherford International plc (NASDAQ: WFRD) is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.

The company’s portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.