Bank of New York Mellon Corp Purchases 109,783 Shares of Weatherford International plc (NASDAQ:WFRD)

Bank of New York Mellon Corp boosted its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 719,192 shares of the company's stock after acquiring an additional 109,783 shares during the period. Bank of New York Mellon Corp owned 0.99% of Weatherford International worth $51,516,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Weatherford International by 11,606.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company's stock valued at $134,000 after buying an additional 1,857 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Weatherford International by 1.7% during the 4th quarter. Rhumbline Advisers now owns 208,837 shares of the company's stock valued at $14,959,000 after buying an additional 3,589 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Weatherford International by 643.0% during the 4th 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 in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Weatherford International during the 4th quarter valued at approximately $2,785,000. Finally, Van ECK Associates Corp lifted its stake in shares of Weatherford International by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company's stock valued at $65,723,000 after buying an additional 204,317 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

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Insider Buying and Selling at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 21,072 shares of the company's stock, valued at approximately $1,423,835.04. This trade represents a 32.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 19,425 shares of the firm's stock in a transaction dated 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 completion of 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 represents a 52.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock valued at $6,207,725 in the last quarter. Company insiders own 1.60% of the company's stock.

Weatherford International Price Performance

Shares of NASDAQ:WFRD traded up $1.88 during trading on Friday, reaching $56.11. The company had a trading volume of 1,029,472 shares, compared to its average volume of 1,283,547. The company has a fifty day moving average of $67.56 and a two-hundred day moving average of $79.81. The stock has a market capitalization of $4.09 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 12 month low of $52.10 and a 12 month high of $135.00. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results 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 return on equity of 40.65% and a net margin of 9.18%. Equities research analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be given 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 yield of 1.78%. Weatherford International's payout ratio is currently 14.88%.

Analysts Set New Price Targets

A number of analysts recently commented on WFRD shares. Barclays dropped their price target on shares of Weatherford International from $100.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Benchmark dropped their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Citigroup decreased their target price 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. Piper Sandler decreased their target price on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group lowered 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 report on Friday, December 13th. Two equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.