Quarry LP Purchases 2,144 Shares of Weatherford International plc (NASDAQ:WFRD)

Quarry LP increased its position in shares of Weatherford International plc (NASDAQ:WFRD) by 763.0% during the 3rd quarter, Holdings Channel reports. The fund owned 2,425 shares of the company’s stock after buying an additional 2,144 shares during the quarter. Quarry LP’s holdings in Weatherford International were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WFRD. Cetera Investment Advisers bought a new position in Weatherford International during the 1st quarter worth approximately $2,132,000. Cetera Advisors LLC boosted its stake in Weatherford International by 9.5% during the 1st quarter. Cetera Advisors LLC now owns 3,044 shares of the company’s stock worth $351,000 after acquiring an additional 265 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Weatherford International by 119.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 881 shares of the company’s stock worth $100,000 after acquiring an additional 480 shares during the last quarter. GAMMA Investing LLC boosted its stake in Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after acquiring an additional 128 shares during the last quarter. Finally, CWM LLC boosted its stake in Weatherford International by 74.1% during the 2nd quarter. CWM LLC now owns 552 shares of the company’s stock worth $68,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Price Performance

NASDAQ WFRD opened at $82.72 on Friday. 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 12-month low of $77.00 and a 12-month high of $135.00. The company has a market capitalization of $6.01 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58. The firm’s 50 day moving average is $85.41 and its 200-day moving average is $102.44.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion for 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 earnings per share. Equities research analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Weatherford International’s payout ratio is 14.04%.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International 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 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 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on WFRD. 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 research note on Thursday, October 24th. Citigroup cut their price target on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Finally, Barclays cut their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Weatherford International has a consensus rating of “Buy” and a consensus price target 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.