New York State Teachers Retirement System Lowers Holdings in Weatherford International plc (NASDAQ:WFRD)

New York State Teachers Retirement System lessened its stake in Weatherford International plc (NASDAQ:WFRD) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 74,085 shares of the company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System’s holdings in Weatherford International were worth $6,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of Weatherford International by 246.1% during the third quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company’s stock worth $2,337,000 after purchasing an additional 19,575 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Weatherford International by 7.3% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock worth $255,000 after buying an additional 203 shares in the last quarter. Net Worth Advisory Group purchased a new position in shares of Weatherford International during the 3rd quarter valued at approximately $233,000. nVerses Capital LLC bought a new stake in Weatherford International in the third quarter valued at about $34,000. Finally, Oliver Luxxe Assets LLC raised its holdings in shares of Weatherford International by 80.8% during the third quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company’s stock worth $1,781,000 after purchasing an additional 9,372 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on WFRD shares. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Barclays decreased their price objective on Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Bank of America reduced 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 note on Monday, October 14th. Citigroup lowered 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, September 25th. Finally, Evercore ISI cut their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $144.88.

Weatherford International Stock Performance

WFRD opened at $79.79 on Tuesday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.79 and a beta of 0.60. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $90.09 and a 200-day moving average of $108.19. Weatherford International plc has a 12-month low of $77.00 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 EPS. On average, equities research analysts expect that Weatherford International plc will post 6.74 earnings per share for the current 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 $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Weatherford International’s payout ratio is 14.04%.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the firm’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 transaction, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at $932,764.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

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.