Weatherford International plc (NASDAQ:WFRD) Shares Bought by Cynosure Group LLC

Cynosure Group LLC lifted its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 73.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,537 shares of the company’s stock after acquiring an additional 4,898 shares during the period. Cynosure Group LLC’s holdings in Weatherford International were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Weatherford International in the 3rd quarter worth approximately $1,353,000. FMR LLC grew its position in shares of Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after purchasing an additional 959,783 shares during the period. Hancock Whitney Corp lifted its position in Weatherford International by 1.9% during the third quarter. Hancock Whitney Corp now owns 14,994 shares of the company’s stock worth $1,273,000 after buying an additional 284 shares during the period. Truvestments Capital LLC boosted its stake in Weatherford International by 14.3% in the 3rd quarter. Truvestments Capital LLC now owns 4,984 shares of the company’s stock worth $423,000 after buying an additional 623 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock valued at $2,728,000 after buying an additional 29,530 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Down 2.8 %

Shares of NASDAQ WFRD opened at $81.99 on Wednesday. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.71 and a beta of 0.60. Weatherford International plc has a 1 year low of $77.00 and a 1 year high of $135.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The stock’s 50-day simple moving average is $86.80 and its 200-day simple moving average is $104.28.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. As a group, equities analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s dividend payout ratio is presently 14.04%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Barclays cut their target price on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Bank of America dropped their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup reduced their price objective on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Weatherford International has a consensus rating of “Buy” and a consensus target price of $147.29.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. The trade was a 35.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Weatherford International Company 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.