Weatherford International plc (NASDAQ:WFRD) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in Weatherford International plc (NASDAQ:WFRD) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,940 shares of the company’s stock after selling 1,354 shares during the period. US Bancorp DE’s holdings in Weatherford International were worth $712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its stake 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 last quarter. R Squared Ltd purchased a new position in Weatherford International during the 4th quarter worth approximately $36,000. Millburn Ridgefield Corp acquired a new position in Weatherford International during the third quarter worth approximately $42,000. Blue Trust Inc. lifted its stake in Weatherford International by 643.0% in the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after buying an additional 1,106 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Weatherford International by 11,606.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company’s stock valued at $134,000 after acquiring an additional 1,857 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Down 7.4 %

Weatherford International stock opened at $51.95 on Tuesday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. Weatherford International plc has a fifty-two week low of $51.47 and a fifty-two week high of $135.00. The stock’s fifty day moving average is $67.21 and its two-hundred day moving average is $79.27.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Analysts predict that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Weatherford International’s dividend payout ratio is currently 14.88%.

Insider Activity at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the completion of the transaction, the chief financial officer now owns 21,072 shares of the company’s stock, valued at $1,423,835.04. The trade was a 32.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Desmond J. Mills sold 19,425 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the sale, the chief accounting officer now owns 17,899 shares in the company, valued at approximately $1,208,361.49. This trade represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,692 shares of company stock valued at $6,207,725. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WFRD shares. Raymond James reduced their price target on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Benchmark reduced their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays cut their price target on Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler dropped their price target on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.63.

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.