Orion Portfolio Solutions LLC Cuts Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Orion Portfolio Solutions LLC lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 27.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,582 shares of the company’s stock after selling 1,328 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Weatherford International were worth $304,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’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 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. This trade represents a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

NASDAQ WFRD opened at $68.56 on Friday. The company’s 50 day moving average is $82.51 and its 200-day moving average is $99.25. The firm has a market cap of $4.98 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. Weatherford International plc has a 12-month low of $68.33 and a 12-month high of $135.00. 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 (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 earnings per share. Sell-side analysts predict that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, November 6th. Weatherford International’s payout ratio is presently 14.04%.

Analyst Ratings Changes

A number of brokerages recently commented on WFRD. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Barclays decreased 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. Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler started coverage on shares of Weatherford International in a report on Thursday. They set a “neutral” rating and a $87.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Weatherford International from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.13.

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.