Tidal Investments LLC Buys 14,537 Shares of Weatherford International PLC $WFRD

Key Points

• Tidal Investments increased its Weatherford International stake by 19.3% in the second quarter, purchasing 14,537 shares for a total holding of 89,847 shares worth approximately $7.3 million. Institutional investors collectively own 97.23% of the company.
• Analyst sentiment remains positive but mixed, with seven Buy ratings, two Holds and one Sell. Weatherford has a consensus “Moderate Buy” rating and an average price target of $114.25.
• Weatherford’s latest quarterly EPS of $0.55 missed expectations of $0.90, while revenue reached $1.10 billion but declined 8.2% year over year. The company also pays a quarterly dividend of $0.275 per share, yielding about 1.2% annually.

Tidal Investments LLC increased its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,847 shares of the company's stock after purchasing an additional 14,537 shares during the quarter. Tidal Investments LLC owned about 0.13% of Weatherford International worth $7,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company's stock worth $26,000 after purchasing an additional 131 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock valued at $25,000 after buying an additional 178 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Weatherford International during the fourth quarter valued at about $26,000. Plato Investment Management Ltd bought a new stake in shares of Weatherford International during the second quarter valued at about $38,000. Finally, Leonteq Securities AG purchased a new stake in shares of Weatherford International in the fourth quarter worth about $39,000. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Weatherford International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 12th. Barclays decreased their target price 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. Wall Street Zen downgraded shares of Weatherford International from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Raymond James Financial reduced their price target on shares of Weatherford International from $125.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. Finally, Citigroup decreased their price target 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. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Weatherford International has an average rating of "Moderate Buy" and a consensus target price of $114.25.

Weatherford International Stock Down 1.2%

WFRD stock opened at $88.85 on Friday. The company's 50 day moving average is $88.66 and its 200 day moving average is $95.08. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. 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 $60.84 and a 1-year high of $113.15.

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

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 6th. Weatherford International's payout ratio is currently 21.70%.

Insider Transactions at Weatherford International

In related news, Director Neal P. Goldman sold 16,000 shares of the stock in a transaction 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 transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacqueline C. Mutschler sold 4,094 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the sale, the director owned 29,093 shares in the company, valued at $2,632,916.50. The trade was a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,094 shares of company stock valued at $2,244,487. Insiders own 2.07% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.