DME Capital Management LP Sells 140,138 Shares of Weatherford International plc (NASDAQ:WFRD)

DME Capital Management LP lessened its holdings in Weatherford International plc (NASDAQ:WFRD) by 44.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 177,339 shares of the company’s stock after selling 140,138 shares during the period. Weatherford International makes up about 1.1% of DME Capital Management LP’s investment portfolio, making the stock its 21st largest position. DME Capital Management LP’s holdings in Weatherford International were worth $21,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the period. Transcendent Capital Group LLC bought a new stake in Weatherford International during the 1st quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new stake in Weatherford International during the 1st quarter worth approximately $33,000. Finally, Rise Advisors LLC bought a new stake in Weatherford International during the 1st quarter worth approximately $34,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Down 7.8 %

Weatherford International stock opened at $87.12 on Thursday. The stock has a market cap of $6.37 billion, a P/E ratio of 14.10, a PEG ratio of 0.67 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. Weatherford International plc has a 1 year low of $82.16 and a 1 year high of $135.00. The firm’s 50 day moving average price is $104.81 and its 200-day moving average price is $114.32.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFRD shares. Citigroup decreased their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James decreased their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Bank of America raised their target price on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. Finally, Barclays raised their target price on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Weatherford International has a consensus rating of “Buy” and a consensus price target of $150.75.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

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.