187,350 Shares in Weatherford International PLC $WFRD Bought by Readystate Asset Management LP

Readystate Asset Management LP acquired a new stake in Weatherford International PLC (NASDAQ:WFRD) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 187,350 shares of the company’s stock, valued at approximately $15,269,000. Readystate Asset Management LP owned approximately 0.26% of Weatherford International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. TD Private Client Wealth LLC lifted its holdings in shares of Weatherford International by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Weatherford International by 24.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Weatherford International by 3.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Weatherford International by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after purchasing an additional 151 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $95.88 on Monday. The firm has a 50 day moving average price of $87.61 and a two-hundred day moving average price of $95.44. The stock has a market cap of $6.86 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. Weatherford International PLC has a 52-week low of $60.23 and a 52-week high of $113.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $1.87 EPS. Weatherford International’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities analysts forecast that Weatherford International PLC will post 5.22 EPS for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.10 annualized dividend and a yield of 1.1%. Weatherford International’s payout ratio is presently 21.70%.

Insiders Place Their Bets

In other news, Director Jacqueline C. Mutschler sold 4,094 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $90.50, for a total transaction of $370,507.00. Following the completion of the transaction, the director directly owned 29,093 shares in the company, valued at $2,632,916.50. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neal P. Goldman sold 16,000 shares of Weatherford International stock in a transaction that occurred 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 completion of the transaction, the director directly owned 12,187 shares in the company, valued at approximately $1,033,945.08. This represents a 56.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,094 shares of company stock valued at $2,244,487. 2.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in 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. Weiss Ratings cut Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Raymond James Financial cut their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Citigroup lowered their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 26th. Finally, Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.25.

Weatherford International Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.