Engineers Gate Manager LP Sells 32,900 Shares of Weatherford International PLC $WFRD

Engineers Gate Manager LP trimmed its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 67.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,909 shares of the company's stock after selling 32,900 shares during the period. Engineers Gate Manager LP's holdings in Weatherford International were worth $1,297,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in shares of 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 period. Plato Investment Management Ltd acquired a new stake in Weatherford International during the second quarter worth approximately $38,000. Leonteq Securities AG bought a new stake in Weatherford International in the fourth quarter worth approximately $39,000. Summit Securities Group LLC acquired a new position in Weatherford International in the first quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Weatherford International by 24.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company's stock worth $55,000 after buying an additional 137 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $82.05 on Friday. The company has a fifty day moving average of $88.67 and a 200-day moving average of $94.39. Weatherford International PLC has a 52-week low of $60.84 and a 52-week high of $113.15. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. The firm's revenue for the quarter was down 8.2% on a year-over-year basis. Equities research analysts expect that Weatherford International PLC will post 5.22 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Thursday, August 6th. Weatherford International's dividend payout ratio (DPR) is presently 21.70%.

Insider Activity

In related news, Director Neal P. Goldman sold 16,000 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total value of $1,357,440.00. Following the sale, the director owned 12,187 shares in the company, valued at $1,033,945.08. This represents a 56.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jacqueline C. Mutschler sold 4,094 shares of Weatherford International stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $90.50, for a total value of $370,507.00. Following the completion of the transaction, the director directly owned 29,093 shares of the company's stock, valued at approximately $2,632,916.50. This represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,094 shares of company stock worth $2,244,487. Corporate insiders own 2.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFRD. 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 lowered their target price on shares of Weatherford International from $137.00 to $115.00 and set a "buy" rating for the company in a report on Friday, June 26th. Zacks Research lowered Weatherford International from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 12th. Raymond James Financial lowered their price target on shares of Weatherford International from $125.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Finally, Barclays dropped their price objective on shares of Weatherford International from $154.00 to $151.00 and set an "overweight" rating on the stock in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Weatherford International currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.25.

Weatherford International Profile

Weatherford International plc NASDAQ: WFRD is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.

The company's portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.

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