Entropy Technologies LP Takes Position in Weatherford International PLC $WFRD

Entropy Technologies LP bought a new stake in Weatherford International PLC (NASDAQ:WFRD) during the first quarter, Holdings Channel.com reports. The fund bought 7,229 shares of the company’s stock, valued at approximately $684,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Inceptionr LLC purchased a new stake in Weatherford International in the first quarter valued at $358,000. Sei Investments Co. grew its holdings in shares of Weatherford International by 193.7% during the first quarter. Sei Investments Co. now owns 149,935 shares of the company’s stock worth $14,181,000 after purchasing an additional 98,882 shares during the last quarter. State of Wyoming grew its holdings in shares of Weatherford International by 21.9% during the first quarter. State of Wyoming now owns 5,194 shares of the company’s stock worth $491,000 after purchasing an additional 934 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Weatherford International by 25.1% during the first quarter. Cetera Investment Advisers now owns 13,888 shares of the company’s stock worth $1,314,000 after purchasing an additional 2,784 shares in the last quarter. Finally, Militia Capital Management LLC purchased a new stake in shares of Weatherford International in the 1st quarter valued at about $946,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. UBS Group raised Weatherford International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.00 to $114.00 in a research report on Wednesday. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Citigroup decreased their price objective 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, Zacks Research lowered shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $113.56.

Insider Buying and Selling

In other news, Director Neal P. Goldman sold 16,000 shares of the firm’s 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 sale, the director directly owned 12,187 shares of the company’s stock, valued at $1,033,945.08. This trade represents a 56.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Duster sold 6,000 shares of Weatherford International stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the sale, the director owned 11,187 shares in the company, valued at approximately $963,088.83. This trade represents a 34.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.07% of the stock is currently owned by company insiders.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $82.31 on Thursday. Weatherford International PLC has a one year low of $52.70 and a one year high of $113.15. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.40 and a beta of 0.86. The company has a 50-day simple moving average of $91.65 and a 200-day simple moving average of $95.80. 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 released its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 EPS. On average, analysts predict that Weatherford International PLC will post 5.35 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 6th. Weatherford International’s dividend payout ratio (DPR) is presently 21.70%.

Weatherford International Company 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.