Truvestments Capital LLC Increases Position in Weatherford International plc (NASDAQ:WFRD)

Truvestments Capital LLC boosted its holdings in Weatherford International plc (NASDAQ:WFRD) by 14.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,984 shares of the company’s stock after purchasing an additional 623 shares during the period. Truvestments Capital LLC’s holdings in Weatherford International were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WFRD. Farther Finance Advisors LLC boosted its stake 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 buying an additional 281 shares during the last quarter. Fifth Third Bancorp boosted its stake in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares during the last quarter. GAMMA Investing LLC boosted its stake in Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after acquiring an additional 128 shares during the last quarter. nVerses Capital LLC acquired a new position in Weatherford International during the 3rd quarter worth $34,000. Finally, CWM LLC increased its position in shares of Weatherford International by 74.1% in the 2nd quarter. CWM LLC now owns 552 shares of the company’s stock worth $68,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Down 1.7 %

Weatherford International stock opened at $84.38 on Tuesday. Weatherford International plc has a 52 week low of $77.00 and a 52 week high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.72 and a beta of 0.60. The company’s 50-day moving average price is $86.80 and its two-hundred day moving average price is $104.28.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $1.66 EPS. Weatherford International’s revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Weatherford International plc will post 6.91 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International’s dividend payout ratio is 14.04%.

Analysts Set New Price Targets

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

Insider Activity at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David John Reed sold 6,805 shares of the company’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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.