Truist Financial Corp reduced its position in Weatherford International plc (NASDAQ:WFRD – Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,927 shares of the company’s stock after selling 550 shares during the period. Truist Financial Corp’s holdings in Weatherford International were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in WFRD. Farther Finance Advisors LLC raised its position in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the period. R Squared Ltd purchased a new position in shares of Weatherford International in the 4th quarter valued at about $36,000. Millburn Ridgefield Corp acquired a new position in Weatherford International in the 3rd quarter worth about $42,000. Blue Trust Inc. boosted its position in Weatherford International by 643.0% during the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock worth $92,000 after purchasing an additional 1,106 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Weatherford International in the fourth quarter valued at approximately $157,000. 97.23% of the stock is owned by hedge funds and other institutional investors.
Weatherford International Stock Up 0.8 %
WFRD stock opened at $54.78 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average of $68.08 and a two-hundred day moving average of $80.51. Weatherford International plc has a 12 month low of $52.10 and a 12 month high of $135.00. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 1.65 and a beta of 0.60.
Weatherford International (NASDAQ:WFRD – Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 EPS 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%. As a group, analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.
Weatherford International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Weatherford International’s dividend payout ratio is presently 14.88%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on WFRD shares. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Raymond James reduced their price objective 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. Barclays dropped their target price on shares of Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reduced their price target on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Citigroup lowered their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and an average target price of $107.63.
Read Our Latest Analysis on Weatherford International
Insider Activity
In other Weatherford International news, EVP David John Reed sold 4,762 shares of Weatherford International stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the transaction, the chief financial officer now owns 21,072 shares in the company, valued at $1,423,835.04. The trade was a 32.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,692 shares of company stock valued at $6,207,725. 1.60% of the stock is currently owned by insiders.
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.
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Source: defenseworld.net
