Dakota Wealth Management Reduces Holdings in Weatherford International plc (NASDAQ:WFRD)

Dakota Wealth Management reduced its stake in Weatherford International plc (NASDAQ:WFRD) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,905 shares of the company’s stock after selling 155 shares during the quarter. Dakota Wealth Management’s holdings in Weatherford International were worth $233,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after buying an additional 189 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Weatherford International in the 1st quarter worth $29,000. CWM LLC lifted its position in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Weatherford International during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WFRD. Evercore ISI lifted their target price on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Barclays upped their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Wednesday, July 24th. Finally, Citigroup initiated coverage on Weatherford International in a research note on Tuesday, May 14th. They set a “buy” rating and a $155.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $153.88.

Weatherford International Stock Performance

Shares of NASDAQ WFRD traded up $0.97 during midday trading on Wednesday, reaching $103.96. 89,170 shares of the stock were exchanged, compared to its average volume of 882,937. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 0.77 and a beta of 0.63. Weatherford International plc has a twelve month low of $82.16 and a twelve month high of $135.00. The firm has a 50-day simple moving average of $117.49 and a two-hundred day simple moving average of $115.22. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $1.12 EPS. Weatherford International’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Weatherford International plc will post 6.82 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. Weatherford International’s dividend payout ratio (DPR) is 16.18%.

Weatherford International Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.