Centiva Capital LP Purchases 25,418 Shares of Weatherford International plc (NASDAQ:WFRD)

Centiva Capital LP raised its position in Weatherford International plc (NASDAQ:WFRD) by 231.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,377 shares of the company’s stock after purchasing an additional 25,418 shares during the quarter. Centiva Capital LP owned 0.05% of Weatherford International worth $3,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings 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 during the period. nVerses Capital LLC acquired a new stake in shares of Weatherford International in the third quarter valued at about $34,000. Fifth Third Bancorp raised its position in shares of Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after acquiring an additional 141 shares during the last quarter. Finally, Park Place Capital Corp increased its position in Weatherford International by 1,516.2% during the 3rd quarter. Park Place Capital Corp now owns 598 shares of the company’s stock valued at $51,000 after purchasing an additional 561 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WFRD. Evercore ISI reduced their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their target price on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Bank of America dropped their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Citigroup decreased their target price on Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $147.29.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $82.20 on Monday. The firm has a market capitalization of $5.97 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.69 and a beta of 0.60. The firm’s 50-day moving average price is $85.90 and its 200-day moving average price is $103.27. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Weatherford International plc has a 1-year low of $77.00 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business earned $1.66 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.22%. Weatherford International’s dividend payout ratio is currently 14.04%.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the business’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 represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.