Truvestments Capital LLC Acquires 623 Shares of Weatherford International plc (NASDAQ:WFRD)

Truvestments Capital LLC lifted its holdings in Weatherford International plc (NASDAQ:WFRD) by 14.3% in the 3rd quarter, Holdings Channel reports. The firm owned 4,984 shares of the company’s stock after buying an additional 623 shares during the quarter. Truvestments Capital LLC’s holdings in Weatherford International were worth $423,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its holdings in Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after purchasing an additional 29,530 shares during the last quarter. Algert Global LLC raised its position in shares of Weatherford International by 591.9% in the third quarter. Algert Global LLC now owns 51,539 shares of the company’s stock valued at $4,377,000 after purchasing an additional 44,090 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Weatherford International by 551.1% in the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock worth $122,356,000 after buying an additional 1,219,553 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Weatherford International in the third quarter worth $2,609,000. Finally, Intech Investment Management LLC bought a new stake in shares of Weatherford International during the 3rd quarter worth $4,247,000. 97.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFRD has been the subject of a number of research analyst reports. Barclays cut their target price 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. Bank of America cut their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Benchmark reaffirmed 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 target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup reduced their price objective on Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $147.29.

Weatherford International Trading Down 1.7 %

Weatherford International stock opened at $84.38 on Tuesday. The business has a 50 day moving average price of $86.80 and a two-hundred day moving average price 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 12 month low of $77.00 and a 12 month high of $135.00. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.72 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. As a group, equities analysts forecast that Weatherford International plc will post 6.91 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International’s payout ratio is 14.04%.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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.