HighTower Advisors LLC Has $633,000 Position in Weatherford International plc (NASDAQ:WFRD)

HighTower Advisors LLC lessened its holdings in Weatherford International plc (NASDAQ:WFRD) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,433 shares of the company’s stock after selling 164 shares during the period. HighTower Advisors LLC’s holdings in Weatherford International were worth $633,000 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 raised its position 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 period. nVerses Capital LLC bought a new stake in shares of Weatherford International during the 3rd quarter worth about $34,000. Fifth Third Bancorp grew its stake 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 buying an additional 85 shares during the last quarter. GAMMA Investing LLC raised its holdings in Weatherford International by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after acquiring an additional 141 shares during the period. Finally, Park Place Capital Corp lifted its position in 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 acquiring an additional 561 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Weatherford International Price Performance

WFRD stock opened at $68.56 on Friday. The company’s 50-day moving average price is $82.51 and its two-hundred day moving average price is $99.25. The firm has a market cap of $4.98 billion, a P/E ratio of 9.63, a P/E/G 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 12 month low of $68.33 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm posted $1.66 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.46%. Weatherford International’s dividend payout ratio (DPR) is currently 14.04%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on Weatherford International from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. 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. Piper Sandler began coverage on shares of Weatherford International in a research report on Thursday. They set a “neutral” rating and a $87.00 price target on the stock. Finally, Evercore ISI dropped their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.13.

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.