Seven Eight Capital LP Sells 1,128 Shares of Weatherford International plc (NASDAQ:WFRD)

Seven Eight Capital LP trimmed its stake in Weatherford International plc (NASDAQ:WFRD) by 10.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,260 shares of the company’s stock after selling 1,128 shares during the period. Seven Eight Capital LP’s holdings in Weatherford International were worth $1,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFRD. Fifth Third Bancorp raised its position in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Weatherford International by 8.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock worth $188,000 after acquiring an additional 120 shares during the period. Oliver Luxxe Assets LLC lifted its position in Weatherford International by 1.1% during the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after acquiring an additional 125 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Weatherford International by 50.4% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after acquiring an additional 128 shares during the period. Finally, Covestor Ltd grew its position in shares of Weatherford International by 23.4% in the first quarter. Covestor Ltd now owns 918 shares of the company’s stock valued at $106,000 after purchasing an additional 174 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFRD. Barclays increased their target price on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America increased their price objective on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. 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. Finally, Raymond James reduced their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $153.88.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction that occurred on 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 accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Stock Up 2.6 %

Shares of WFRD stock opened at $95.77 on Friday. Weatherford International plc has a one year low of $82.16 and a one year high of $135.00. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The stock has a fifty day moving average price of $107.81 and a 200 day moving average price of $114.64. The stock has a market cap of $7.01 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business posted $1.12 earnings per share. Weatherford International’s revenue was up 10.3% on a year-over-year basis. Analysts predict that Weatherford International plc will post 6.81 earnings per share for the current year.

Weatherford International Dividend Announcement

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

About Weatherford International

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.