Pitcairn Co. Sells 1,023 Shares of Weatherford International plc (NASDAQ:WFRD)

Pitcairn Co. decreased its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,380 shares of the company’s stock after selling 1,023 shares during the quarter. Pitcairn Co.’s holdings in Weatherford International were worth $372,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WFRD. Advisors Asset Management Inc. bought a new stake in shares of Weatherford International during the first quarter valued at approximately $471,000. Lazard Asset Management LLC raised its position in Weatherford International by 29.8% during the 1st quarter. Lazard Asset Management LLC now owns 2,097 shares of the company’s stock valued at $241,000 after purchasing an additional 481 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Weatherford International in the 1st quarter worth $1,190,000. Comerica Bank grew its position in shares of Weatherford International by 7.7% during the 1st quarter. Comerica Bank now owns 63,764 shares of the company’s stock worth $7,360,000 after buying an additional 4,541 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Weatherford International during the first quarter valued at $2,132,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Trading Down 2.8 %

NASDAQ:WFRD opened at $81.99 on Wednesday. The firm has a 50 day moving average of $86.80 and a 200 day moving average of $104.28. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International plc has a 52 week low of $77.00 and a 52 week high of $135.00. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.72 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 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The firm 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 business posted $1.66 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WFRD. Citigroup lowered their price objective on shares of 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 lowered their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a report on Thursday, October 24th. Bank of America lowered their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Evercore ISI cut their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $147.29.

Insider Transactions at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. The trade was a 35.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

About Weatherford International

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.