Louisiana State Employees Retirement System Sells 400 Shares of Weatherford International plc (NASDAQ:WFRD)

Louisiana State Employees Retirement System lowered its stake in Weatherford International plc (NASDAQ:WFRD) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,300 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Weatherford International were worth $1,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Weatherford International by 86.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company’s stock worth $132,000 after purchasing an additional 628 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Weatherford International by 669.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after buying an additional 14,112 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Weatherford International by 2.9% during the 1st quarter. State of Michigan Retirement System now owns 17,800 shares of the company’s stock valued at $2,054,000 after purchasing an additional 500 shares during the last quarter. Retirement Systems of Alabama raised its position in Weatherford International by 0.5% in the first quarter. Retirement Systems of Alabama now owns 90,810 shares of the company’s stock worth $10,481,000 after acquiring an additional 485 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Weatherford International during the first quarter valued at $33,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Down 0.8 %

Shares of Weatherford International stock opened at $78.55 on Thursday. The stock has a 50 day moving average of $91.78 and a 200 day moving average of $108.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.80 and a beta of 0.58. Weatherford International plc has a fifty-two week low of $77.29 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts predict that Weatherford International plc will post 6.74 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.27%. Weatherford International’s dividend payout ratio is presently 14.04%.

Wall Street Analyst Weigh In

WFRD has been the subject of a number of recent analyst reports. Barclays dropped their price objective 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. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Evercore ISI dropped their price objective on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America lowered their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Raymond James dropped their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $144.88.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David John Reed sold 6,805 shares of Weatherford International 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.