Point72 Asset Management L.P. Acquires 57,866 Shares of Weatherford International plc (NASDAQ:WFRD)

Point72 Asset Management L.P. lifted its holdings in Weatherford International plc (NASDAQ:WFRD) by 67.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 143,900 shares of the company’s stock after acquiring an additional 57,866 shares during the quarter. Point72 Asset Management L.P. owned 0.20% of Weatherford International worth $12,220,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC raised its holdings in Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after buying an additional 959,783 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares during the last quarter. Jennison Associates LLC raised its holdings in Weatherford International by 30.6% during the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after buying an additional 310,259 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Weatherford International by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock valued at $80,566,000 after buying an additional 38,700 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Weatherford International by 33.0% during the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock valued at $77,372,000 after buying an additional 156,756 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WFRD shares. Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Citigroup reduced their price objective on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Bank of America reduced their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays reduced their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI reduced their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Weatherford International presently has an average rating of “Buy” and a consensus target price of $147.29.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. The trade was a 35.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Weatherford International Stock Down 6.2 %

NASDAQ:WFRD opened at $77.58 on Friday. The firm’s 50-day moving average price is $85.24 and its 200-day moving average price is $101.98. The company has a market capitalization of $5.64 billion, a PE ratio of 10.90, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. Weatherford International plc has a 1-year low of $76.84 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released 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 firm 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 company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 EPS. On average, equities analysts predict that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, November 6th. Weatherford International’s payout ratio is 14.04%.

Weatherford International Company 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.