Tidal Investments LLC Purchases 2,022 Shares of Weatherford International plc (NASDAQ:WFRD)

Tidal Investments LLC raised its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 39.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,173 shares of the company’s stock after acquiring an additional 2,022 shares during the quarter. Tidal Investments LLC’s holdings in Weatherford International were worth $609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Weatherford International during the 3rd quarter worth about $34,000. Millburn Ridgefield Corp bought a new position in shares of Weatherford International in the 3rd quarter valued at about $42,000. Fifth Third Bancorp increased its position in shares of Weatherford International by 31.0% in the second 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. Finally, GAMMA Investing LLC raised its holdings in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of analyst reports. Bank of America decreased their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Evercore ISI lowered their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays lowered their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Piper Sandler started coverage on shares of Weatherford International in a research note on Thursday. They issued a “neutral” rating and a $87.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and an average target price of $121.25.

Insider Transactions at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD stock opened at $67.10 on Friday. Weatherford International plc has a 52 week low of $66.23 and a 52 week high of $135.00. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.64 and a beta of 0.58. The company has a 50-day simple moving average of $81.97 and a 200 day simple moving average of $98.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, sell-side analysts predict that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, November 6th. Weatherford International’s payout ratio is 14.04%.

About Weatherford International

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.