DRW Securities LLC Acquires Shares of 2,300 Weatherford International plc (NASDAQ:WFRD)

DRW Securities LLC bought a new position in shares of Weatherford International plc (NASDAQ:WFRD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,300 shares of the company’s stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after acquiring an additional 248 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Weatherford International in the first quarter worth about $29,000. Fidelis Capital Partners LLC bought a new position in Weatherford International during the 1st quarter worth about $33,000. Finally, Rise Advisors LLC purchased a new position in Weatherford International during the 1st quarter valued at about $34,000. Institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Wednesday, July 24th. Bank of America lifted their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Raymond James decreased their price objective on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $153.88.

Insiders Place Their Bets

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Weatherford International Price Performance

Shares of WFRD stock opened at $96.04 on Tuesday. Weatherford International plc has a fifty-two week low of $82.16 and a fifty-two week high of $135.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.66 and a beta of 0.61. The stock’s 50-day simple moving average is $106.44 and its 200-day simple moving average is $114.61.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts forecast that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Weatherford International’s dividend payout ratio is currently 16.18%.

Weatherford International Company 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.