Oliver Luxxe Assets LLC Reduces Position in Weatherford International PLC $WFRD

Oliver Luxxe Assets LLC trimmed its holdings in Weatherford International PLC (NASDAQ:WFRD) by 32.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,909 shares of the company’s stock after selling 7,067 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Weatherford International were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in Weatherford International by 5.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock valued at $403,571,000 after acquiring an additional 281,984 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Weatherford International by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after acquiring an additional 66,553 shares during the period. First Trust Advisors LP grew its stake in shares of Weatherford International by 12.4% in the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock worth $166,505,000 after acquiring an additional 194,654 shares during the period. Holocene Advisors LP raised its holdings in shares of Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after purchasing an additional 1,443,512 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Weatherford International by 18.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,539,727 shares of the company’s stock valued at $120,505,000 after purchasing an additional 238,154 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WFRD shares. Raymond James Financial dropped their target price on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Barclays lowered their price target on Weatherford International from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Piper Sandler lifted their price objective on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings cut Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.56.

Insiders Place Their Bets

In other Weatherford International news, Director Benjamin Duster sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was 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 $963,088.83. This represents a 34.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Neal P. Goldman sold 16,000 shares of the firm’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 completion of the transaction, the director directly owned 12,187 shares in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.08% of the stock is currently owned by company insiders.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $86.82 on Monday. Weatherford International PLC has a 12-month low of $52.70 and a 12-month high of $113.15. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $88.92 and a 200 day moving average of $95.88.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, research analysts anticipate that Weatherford International PLC will post 5.35 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 6th. Weatherford International’s dividend payout ratio is 21.70%.

About Weatherford International

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.