Raymond James Financial Inc. Makes New $7.22 Million Investment in Weatherford International plc (NASDAQ:WFRD)

Raymond James Financial Inc. purchased a new stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 100,723 shares of the company's stock, valued at approximately $7,215,000. Raymond James Financial Inc. owned 0.14% of Weatherford International at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its position in Weatherford International by 0.4% during the third quarter. Swiss National Bank now owns 142,900 shares of the company's stock worth $12,135,000 after purchasing an additional 600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Weatherford International during the 3rd quarter worth $213,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Weatherford International during the 3rd quarter worth $2,609,000. Algert Global LLC boosted its position in shares of Weatherford International by 591.9% in the 3rd quarter. Algert Global LLC now owns 51,539 shares of the company's stock worth $4,377,000 after buying an additional 44,090 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company's stock valued at $2,728,000 after acquiring an additional 29,530 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Trading Up 1.3 %

Weatherford International stock traded up $0.68 during trading on Tuesday, hitting $54.55. The company's stock had a trading volume of 462,568 shares, compared to its average volume of 992,253. The stock's fifty day moving average is $63.41 and its 200 day moving average is $75.76. Weatherford International plc has a 1-year low of $51.24 and a 1-year high of $135.00. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 8.15, a P/E/G 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.

Remove Ads

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing analysts' consensus estimates 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, equities research analysts predict that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, February 21st. Weatherford International's dividend payout ratio (DPR) is currently 14.88%.

Insider Buying and Selling at Weatherford International

In other news, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company's stock, valued at $8,272,507.23. The trade was a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Desmond J. Mills sold 19,425 shares of the 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 directly owns 17,899 shares of the company's stock, 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. Over the last 90 days, insiders sold 92,692 shares of company stock valued at $6,207,725. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

WFRD has been the topic of several recent research reports. Citigroup reduced their price target on shares of Weatherford International from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Raymond James reduced their target price on Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group downgraded Weatherford International from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Benchmark reduced their price objective on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Piper Sandler decreased their price objective on 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weatherford International has an average rating of "Moderate Buy" and an average target price of $107.63.

About Weatherford International

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.