6,112 Weatherford International PLC $WFRD Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its stake in Weatherford International PLC (NASDAQ:WFRD) by 59.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,094 shares of the company’s stock after selling 6,112 shares during the period. CenterBook Partners LP’s holdings in Weatherford International were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WFRD. Vise Technologies Inc. lifted its position in shares of Weatherford International by 82.0% during the third quarter. Vise Technologies Inc. now owns 13,696 shares of the company’s stock worth $1,078,000 after purchasing an additional 6,170 shares during the last quarter. Childress Capital Advisors LLC increased its holdings in Weatherford International by 14.1% in the third quarter. Childress Capital Advisors LLC now owns 3,697 shares of the company’s stock valued at $291,000 after buying an additional 457 shares during the last quarter. Signaturefd LLC increased its holdings in Weatherford International by 65.2% in the third quarter. Signaturefd LLC now owns 1,786 shares of the company’s stock valued at $141,000 after buying an additional 705 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Weatherford International during the third quarter valued at approximately $204,000. Finally, Quadrant Capital Group LLC raised its stake in Weatherford International by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 14,045 shares of the company’s stock valued at $1,084,000 after buying an additional 231 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFRD has been the subject of several research reports. Citigroup decreased their target price on Weatherford International from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 26th. UBS Group reduced their price objective on Weatherford International from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Royal Bank Of Canada decreased their price objective on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Zacks Research raised shares of Weatherford International from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Piper Sandler lowered their target price on shares of Weatherford International from $118.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.57.

Weatherford International Stock Performance

Shares of WFRD stock opened at $86.45 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $83.74 and a two-hundred day moving average of $92.76. Weatherford International PLC has a 52 week low of $68.49 and a 52 week high of $113.15. The company has a market cap of $6.27 billion, a P/E ratio of 15.41, a PEG ratio of 1.45 and a beta of 0.83.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. As a group, analysts anticipate that Weatherford International PLC will post 5.57 EPS for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 6th will be given a $0.2750 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.10 annualized dividend and a yield of 1.3%. Weatherford International’s dividend payout ratio (DPR) is currently 19.61%.

Weatherford International Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention. The company’s products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.