Algert Global LLC Purchases 44,090 Shares of Weatherford International plc (NASDAQ:WFRD)

Algert Global LLC increased its position in Weatherford International plc (NASDAQ:WFRD) by 591.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,539 shares of the company’s stock after buying an additional 44,090 shares during the quarter. Algert Global LLC owned 0.07% of Weatherford International worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. GAMMA Investing LLC increased its holdings in shares of Weatherford International by 50.4% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after buying an additional 128 shares during the period. nVerses Capital LLC bought a new stake in shares of Weatherford International in the 3rd quarter valued at about $34,000. Finally, CWM LLC boosted its stake in shares of Weatherford International by 74.1% during the second quarter. CWM LLC now owns 552 shares of the company’s stock valued at $68,000 after purchasing an additional 235 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $85.83 on Monday. The company has a market capitalization of $6.24 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.72 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 firm’s 50 day simple moving average is $86.97 and its two-hundred day simple moving average is $104.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.41. The company 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%. Weatherford International’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. Research analysts expect that Weatherford International plc will post 6.91 EPS for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Weatherford International’s dividend payout ratio is presently 14.04%.

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.