Edgestream Partners L.P. Sells 42,701 Shares of Weatherford International PLC $WFRD

Key Points

• Edgestream Partners L.P. reduced its Weatherford International stake by 93.4%, selling 42,701 shares and retaining 3,033 shares valued at approximately $287,000. Institutional investors collectively own 97.23% of WFRD.
• Weatherford’s latest quarterly earnings missed expectations, with EPS of $0.55 versus the $0.90 consensus, while revenue of $1.10 billion exceeded estimates but declined 8.2% year over year.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $113.56 target price. The company also announced a quarterly dividend of $0.275 per share, representing a 1.3% yield.

Edgestream Partners L.P. cut its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 93.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,033 shares of the company's stock after selling 42,701 shares during the period. Edgestream Partners L.P.'s holdings in Weatherford International were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Amundi increased its stake in shares of Weatherford International by 89.8% in the first quarter. Amundi now owns 18,869 shares of the company's stock valued at $1,785,000 after buying an additional 8,925 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Weatherford International by 32.8% in the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock worth $88,000 after acquiring an additional 231 shares during the period. California State Teachers Retirement System boosted its holdings in Weatherford International by 22.4% in the first quarter. California State Teachers Retirement System now owns 83,567 shares of the company's stock valued at $7,904,000 after acquiring an additional 15,294 shares during the last quarter. Royal Bank of Canada boosted its holdings in Weatherford International by 43.8% in the first quarter. Royal Bank of Canada now owns 60,324 shares of the company's stock valued at $5,705,000 after acquiring an additional 18,384 shares during the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in Weatherford International during the 1st quarter valued at approximately $976,000. 97.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 6,000 shares of Weatherford International stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total transaction of $516,540.00. Following the transaction, the director directly owned 11,187 shares of the company's stock, valued at $963,088.83. The trade was a 34.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neal P. Goldman sold 16,000 shares of the company's stock in a transaction 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 completion of the sale, the director owned 12,187 shares of the company's stock, valued at approximately $1,033,945.08. The trade was a 56.76% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WFRD shares. Wall Street Zen cut shares of Weatherford International from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Citigroup dropped their target price on shares of Weatherford International from $137.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, June 26th. Raymond James Financial cut their price target on shares of Weatherford International from $125.00 to $122.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Weiss Ratings downgraded Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Finally, UBS Group raised Weatherford International from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $113.00 to $114.00 in a research report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $113.56.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $87.53 on Thursday. The firm has a market capitalization of $6.27 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.50 and a beta of 0.87. The firm's 50-day moving average price is $89.55 and its 200-day moving average price is $95.83. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. Weatherford International PLC has a 1-year low of $52.70 and a 1-year high of $113.15.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $1.87 earnings per share. Weatherford International's revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts anticipate that Weatherford International PLC will post 5.35 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Weatherford International's payout ratio is presently 21.70%.

Weatherford International Profile

Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

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