Weatherford International PLC (NASDAQ:WFRD) to Issue Quarterly Dividend of $0.28

Key Points

• Weatherford International declared a quarterly dividend of $0.275 per share, payable December 3 to shareholders of record on November 6. The dividend implies an annualized payout of $1.10 and a 1.3% yield.
• The company reported quarterly EPS of $1.66, beating estimates of $1.33, while revenue of $1.14 billion slightly exceeded forecasts. Revenue nevertheless declined 7.2% year over year.
• Weatherford shares rose 6.1% to $84.15, while institutional investors own a substantial 97.23% of outstanding shares; company insiders sold 26,094 shares worth about $2.24 million during the quarter.

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.2750 per share on Thursday, December 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 6th.

Weatherford International Stock Up 6.1%

Shares of NASDAQ WFRD traded up $4.81 during mid-day trading on Wednesday, reaching $84.15. 638,852 shares of the company's stock were exchanged, compared to its average volume of 1,223,578. Weatherford International has a twelve month low of $65.13 and a twelve month high of $113.15. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.41 and a beta of 1.05. The business has a fifty day simple moving average of $86.00 and a 200 day simple moving average of $92.38.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm earned $1.12 EPS. Weatherford International's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Weatherford International will post 5.15 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Benjamin Duster, IV sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $86.09, for a total transaction of $516,540.00. Following the completion of the transaction, the director owned 11,187 shares of the company's stock, valued at $963,088.83. This represents a 34.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Neal Goldman sold 16,000 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the transaction, the director directly owned 12,187 shares of the company's stock, valued at $1,033,945.08. This represents a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,094 shares of company stock worth $2,244,487. Corporate insiders own 2.08% of the company's stock.

Institutional Trading of Weatherford International

A number of institutional investors have recently made changes to their positions in WFRD. IFP Advisors Inc increased its holdings in Weatherford International by 72.0% during the second quarter. IFP Advisors Inc now owns 313 shares of the company's stock worth $26,000 after buying an additional 131 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Weatherford International during the second quarter worth $38,000. Summit Securities Group LLC bought a new stake in Weatherford International during the first quarter worth $53,000. EverSource Wealth Advisors LLC lifted its stake in Weatherford International by 32.8% in the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $88,000 after acquiring an additional 231 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Weatherford International by 31.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company's stock valued at $144,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company's product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.

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