Los Angeles Capital Management LLC Sells 17,706 Shares of Weatherford International plc (NASDAQ:WFRD)

Los Angeles Capital Management LLC lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 64.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,684 shares of the company’s stock after selling 17,706 shares during the period. Los Angeles Capital Management LLC’s holdings in Weatherford International were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WFRD. Boston Partners grew its holdings in Weatherford International by 19.3% during the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock valued at $315,240,000 after purchasing an additional 439,700 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Weatherford International in the 2nd quarter valued at $51,287,000. Westwood Holdings Group Inc. increased its position in shares of Weatherford International by 5,525.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock valued at $41,501,000 after buying an additional 353,177 shares in the last quarter. Marshall Wace LLP raised its stake in Weatherford International by 89.0% during the 2nd quarter. Marshall Wace LLP now owns 612,242 shares of the company’s stock worth $74,969,000 after buying an additional 288,290 shares during the period. Finally, AGF Management Ltd. bought a new position in Weatherford International during the second quarter worth about $33,951,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Performance

Shares of WFRD opened at $81.86 on Friday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.71 and a beta of 0.60. Weatherford International plc has a 12 month low of $77.00 and a 12 month high of $135.00. The firm has a fifty day simple moving average of $87.59 and a 200 day simple moving average of $106.17. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. Research analysts forecast that Weatherford International plc will post 6.91 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s dividend payout ratio (DPR) is 14.04%.

Insider Transactions at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the subject of several recent analyst reports. Evercore ISI lowered their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup dropped their target price on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Bank of America dropped their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $147.29.

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.