Lombard Odier Asset Management USA Corp Sells 17,130 Shares of Weatherford International PLC $WFRD

Lombard Odier Asset Management USA Corp lessened its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 42.7% in the third quarter, Holdings Channel.com reports. The fund owned 23,000 shares of the company’s stock after selling 17,130 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Weatherford International were worth $1,574,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WFRD. Militia Capital Partners LP boosted its position in shares of Weatherford International by 11.1% in the 3rd quarter. Militia Capital Partners LP now owns 10,000 shares of the company’s stock worth $684,000 after purchasing an additional 1,000 shares during the last quarter. Millennium Management LLC increased its holdings in Weatherford International by 154.3% in the third quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after purchasing an additional 703,401 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in Weatherford International by 225.0% in the third quarter. Lighthouse Investment Partners LLC now owns 130,000 shares of the company’s stock valued at $8,896,000 after buying an additional 90,000 shares during the period. Gotham Asset Management LLC lifted its stake in Weatherford International by 80.0% in the third quarter. Gotham Asset Management LLC now owns 785,828 shares of the company’s stock valued at $53,774,000 after buying an additional 349,214 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Weatherford International by 4.2% during the third quarter. California Public Employees Retirement System now owns 143,690 shares of the company’s stock worth $9,833,000 after buying an additional 5,788 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD stock opened at $86.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $110.57. The company’s 50 day moving average price is $94.98 and its two-hundred day moving average price is $79.42. The company has a market capitalization of $6.23 billion, a P/E ratio of 14.64 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.49. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 6th. This is a boost from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s dividend payout ratio (DPR) is currently 18.55%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WFRD. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Piper Sandler lifted their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Wall Street Zen cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Citigroup increased their target price on shares of Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Insiders Place Their Bets

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Weatherford International 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.