Squarepoint Ops LLC Grows Position in Weatherford International PLC $WFRD

Squarepoint Ops LLC lifted its stake in Weatherford International PLC (NASDAQ:WFRD) by 3,125.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,731 shares of the company’s stock after purchasing an additional 69,507 shares during the quarter. Squarepoint Ops LLC owned about 0.10% of Weatherford International worth $5,846,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WFRD. Smartleaf Asset Management LLC lifted its holdings in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after acquiring an additional 178 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Weatherford International during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its holdings in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the period. Plato Investment Management Ltd acquired a new position in Weatherford International during the 2nd quarter worth approximately $38,000. Finally, Leonteq Securities AG acquired a new position in shares of Weatherford International during the 4th quarter worth about $39,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Citigroup lowered their price objective on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Raymond James Financial dropped their target price on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Zacks Research downgraded shares of Weatherford International from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

Insider Activity

In other news, Director Jacqueline Mutschler sold 4,094 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the transaction, the director owned 29,093 shares of the company’s stock, valued at approximately $2,632,916.50. This trade represents a 12.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Neal Goldman sold 16,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 12,187 shares in the company, valued at approximately $1,033,945.08. This represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,094 shares of company stock valued at $2,244,487. Company insiders own 2.07% of the company’s stock.

Weatherford International Stock Down 1.2%

WFRD stock opened at $88.85 on Friday. The company has a 50 day moving average price of $88.66 and a two-hundred day moving average price of $95.08. 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 PLC has a one year low of $60.84 and a one year high of $113.15. The stock has a market capitalization of $6.35 billion, a P/E ratio of 17.52, a PEG ratio of 1.54 and a beta of 0.90.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share 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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $1.87 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Weatherford International PLC will post 5.22 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.2%. Weatherford International’s dividend payout ratio is presently 21.70%.

Weatherford International Company Profile

Weatherford International plc (NASDAQ: WFRD) is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.

The company’s portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.