Edgestream Partners L.P. Takes $3.62 Million Position in Weatherford International plc (NASDAQ:WFRD)

Edgestream Partners L.P. bought a new stake in Weatherford International plc (NASDAQ:WFRD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,575 shares of the company’s stock, valued at approximately $3,615,000. Edgestream Partners L.P. owned approximately 0.06% of Weatherford International at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WFRD. FMR LLC increased its holdings in shares of Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after purchasing an additional 959,783 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Weatherford International by 551.1% in the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after purchasing an additional 1,219,553 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Weatherford International by 30.6% in the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Weatherford International by 6.2% in the second quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock valued at $80,566,000 after purchasing an additional 38,700 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Weatherford International by 33.0% in the second quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock valued at $77,372,000 after purchasing an additional 156,756 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WFRD shares. Bank of America cut their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Citigroup cut their target price on Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Barclays cut their target price on Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI cut their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weatherford International has an average rating of “Buy” and a consensus target price of $147.29.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction 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 owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Weatherford International Trading Down 0.3 %

Shares of NASDAQ WFRD opened at $82.30 on Monday. Weatherford International plc has a twelve month low of $77.00 and a twelve month high of $135.00. 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 stock has a fifty day simple moving average of $85.90 and a 200-day simple moving average of $103.27. The stock has a market capitalization of $5.98 billion, a PE ratio of 11.56, a PEG ratio of 0.69 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during 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%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. On average, equities analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

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.