Exchange Traded Concepts LLC Sells 149 Shares of Weatherford International plc (NASDAQ:WFRD)

Exchange Traded Concepts LLC decreased its position in shares of Weatherford International plc (NASDAQ:WFRD) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the company’s stock after selling 149 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Weatherford International were worth $192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in Weatherford International during the 1st quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new position in Weatherford International in the first quarter valued at approximately $33,000. Fifth Third Bancorp lifted its stake in 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 buying an additional 85 shares in the last quarter. GAMMA Investing LLC lifted its stake in Weatherford International by 50.4% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after buying an additional 128 shares in the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in Weatherford International in the first quarter valued at approximately $46,000. Institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WFRD shares. Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays lowered their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Citigroup lowered their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, July 24th. Finally, Raymond James lowered their price objective on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $146.88.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Price Performance

Shares of WFRD opened at $84.73 on Tuesday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.87 and a beta of 0.58. Weatherford International plc has a 1-year low of $82.16 and a 1-year high of $135.00. The company’s fifty day simple moving average is $95.47 and its 200 day simple moving average is $110.88. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Weatherford International’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, research analysts forecast that Weatherford International plc will post 6.56 earnings per share for the current fiscal year.

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.