Weatherford International PLC $WFRD Stock Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Weatherford International stake by 88% in the third quarter, selling 45,120 shares and retaining 6,130 shares worth approximately $482,000. Institutional investors and hedge funds collectively own 97.23% of the company.
• Analysts remain broadly positive, with six Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $115.57. However, several firms recently lowered their price targets.
• Weatherford exceeded quarterly expectations, reporting $1.66 in adjusted EPS versus a $1.33 estimate and $1.14 billion in revenue. The company also declared a quarterly dividend of $0.275 per share, equal to a 1.2% annualized yield.

Crossmark Global Holdings Inc. lessened its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 88.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,130 shares of the company's stock after selling 45,120 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Weatherford International were worth $482,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. IFP Advisors Inc raised its stake 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 buying an additional 131 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Weatherford International during the second quarter valued at approximately $38,000. Summit Securities Group LLC bought a new stake in shares of Weatherford International during the first quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its position in shares of Weatherford International by 32.8% during the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock worth $88,000 after purchasing an additional 231 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Weatherford International by 31.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company's stock worth $144,000 after purchasing an additional 420 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Weatherford International news, Director Jacqueline Mutschler sold 4,094 shares of the 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 completion of the sale, the director owned 29,093 shares in the company, valued at approximately $2,632,916.50. This trade represents a 12.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.08% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on WFRD. The Goldman Sachs Group reduced their price target on shares of Weatherford International from $106.00 to $94.00 and set a "neutral" rating for the company in a research report on Wednesday, October 14th. Piper Sandler lowered their price objective on shares of Weatherford International from $118.00 to $110.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Raymond James Financial lowered their price objective 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. Wall Street Zen lowered shares of Weatherford International from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, UBS Group reduced their price objective on shares of Weatherford International from $116.00 to $111.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Weatherford International has a consensus rating of "Moderate Buy" and an average price target of $115.57.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $88.81 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61. The stock's fifty day simple moving average is $85.20 and its two-hundred day simple moving average is $92.83. Weatherford International PLC has a 1-year low of $68.49 and a 1-year high of $113.15. The stock has a market cap of $6.44 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a net margin of 8.64% and a return on equity of 22.39%. The business's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 EPS. As a group, analysts forecast that Weatherford International PLC will post 5.57 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 6th will be issued a dividend of $0.2750 per share. The ex-dividend date is Friday, November 6th. This represents a $1.10 annualized dividend and a yield of 1.2%. Weatherford International's payout ratio is 19.61%.

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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