Weatherford International plc (NASDAQ:WFRD) Stake Trimmed by MML Investors Services LLC

MML Investors Services LLC cut its position in shares of Weatherford International plc (NASDAQ:WFRD) by 9.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,090 shares of the company’s stock after selling 426 shares during the quarter. MML Investors Services LLC’s holdings in Weatherford International were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd grew its holdings in shares of Weatherford International by 79.1% during the third quarter. XTX Topco Ltd now owns 19,133 shares of the company’s stock valued at $1,625,000 after buying an additional 8,451 shares in the last quarter. State Street Corp grew its stake in Weatherford International by 3.1% during the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company’s stock valued at $192,555,000 after acquiring an additional 68,553 shares in the last quarter. Quarry LP increased its holdings in shares of Weatherford International by 763.0% in the 3rd quarter. Quarry LP now owns 2,425 shares of the company’s stock valued at $206,000 after purchasing an additional 2,144 shares during the period. Point72 DIFC Ltd lifted its position in shares of Weatherford International by 165.0% in the third quarter. Point72 DIFC Ltd now owns 33,204 shares of the company’s stock worth $2,820,000 after purchasing an additional 20,672 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Weatherford International by 67.3% in the third quarter. Point72 Asset Management L.P. now owns 143,900 shares of the company’s stock worth $12,220,000 after purchasing an additional 57,866 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Activity at Weatherford International

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 value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $68.07 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $81.46 and a two-hundred day simple moving average of $98.45. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.64 and a beta of 0.58. Weatherford International plc has a 12 month low of $66.23 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.41. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Analysts expect that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WFRD shares. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Barclays cut their target price on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Citigroup dropped their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Bank of America cut their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

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.