Crossmark Global Holdings Inc. Sells 1,194 Shares of Weatherford International plc (NASDAQ:WFRD)

Crossmark Global Holdings Inc. reduced its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,756 shares of the company’s stock after selling 1,194 shares during the period. Crossmark Global Holdings Inc.’s holdings in Weatherford International were worth $489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Weatherford International in the first quarter worth approximately $206,000. Sei Investments Co. lifted its position in shares of Weatherford International by 107.2% in the 1st quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock worth $2,715,000 after purchasing an additional 12,170 shares during the period. Russell Investments Group Ltd. increased its position in shares of Weatherford International by 121.0% during the first quarter. Russell Investments Group Ltd. now owns 92,068 shares of the company’s stock worth $10,626,000 after buying an additional 50,409 shares during the period. ProShare Advisors LLC raised its stake in Weatherford International by 4.8% during the first quarter. ProShare Advisors LLC now owns 16,329 shares of the company’s stock worth $1,885,000 after buying an additional 741 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Weatherford International by 8.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock worth $188,000 after buying an additional 120 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now 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. Company insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

NASDAQ WFRD opened at $81.86 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $87.59 and a 200 day simple moving average of $106.05. Weatherford International plc has a 12-month low of $77.00 and a 12-month high of $135.00. The company has a market cap of $5.95 billion, a P/E ratio of 11.50, a PEG ratio of 0.70 and a beta of 0.60.

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, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company earned $1.66 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on WFRD. Citigroup decreased their price target on Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI decreased their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James cut their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Finally, Bank of America decreased their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $147.29.

Weatherford International Company 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.