New York Life Investment Management LLC Invests $546,000 in Weatherford International plc (NASDAQ:WFRD)

New York Life Investment Management LLC bought a new position in Weatherford International plc (NASDAQ:WFRD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,621 shares of the company's stock, valued at approximately $546,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WFRD. New York State Common Retirement Fund grew its position in shares of Weatherford International by 6.8% in the 3rd quarter. New York State Common Retirement Fund now owns 203,106 shares of the company's stock valued at $17,248,000 after buying an additional 13,007 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock valued at $30,000 after buying an additional 281 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Weatherford International by 100.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 27,500 shares of the company's stock valued at $2,335,000 after buying an additional 13,750 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Weatherford International in the 3rd quarter valued at about $1,289,000. Finally, Victory Capital Management Inc. grew its position in shares of Weatherford International by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 313,738 shares of the company's stock valued at $26,643,000 after buying an additional 16,435 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

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Insider Transactions at Weatherford International

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares of the company's stock, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock valued at $6,207,725 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Weatherford International Stock Up 3.5 %

NASDAQ:WFRD traded up $1.88 on Friday, hitting $56.11. The stock had a trading volume of 1,029,472 shares, compared to its average volume of 1,283,547. The business's fifty day moving average is $67.81 and its 200 day moving average is $80.33. The company has a market cap of $4.09 billion, a PE ratio of 8.35, a P/E/G ratio of 1.65 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 52 week low of $52.10 and a 52 week high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 40.65% and a net margin of 9.18%. On average, equities research analysts expect 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. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, February 21st. Weatherford International's dividend payout ratio (DPR) is presently 14.88%.

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.