Bryce Point Capital LLC acquired a new stake in Weatherford International plc (NASDAQ:WFRD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,719 shares of the company's stock, valued at approximately $481,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank raised its stake in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 257 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Weatherford International by 64.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 50,508 shares of the company's stock valued at $3,618,000 after purchasing an additional 19,785 shares during the period. Trexquant Investment LP raised its stake in shares of Weatherford International by 138.6% during the fourth quarter. Trexquant Investment LP now owns 255,993 shares of the company's stock worth $18,337,000 after purchasing an additional 148,720 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Weatherford International by 32.3% during the fourth quarter. Headlands Technologies LLC now owns 24,199 shares of the company's stock worth $1,733,000 after purchasing an additional 5,911 shares during the period. Finally, Clearbridge Investments LLC grew its position in Weatherford International by 81.5% in the 4th quarter. Clearbridge Investments LLC now owns 506,292 shares of the company's stock valued at $36,266,000 after buying an additional 227,342 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Weatherford International news, CFO Arunava Mitra sold 10,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was 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 directly owns 21,072 shares in the company, valued at approximately $1,423,835.04. The trade was a 32.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the firm's stock in a transaction on 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 sale, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,930 shares of company stock valued at $5,861,718 in the last ninety days. Insiders own 1.60% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. The Goldman Sachs Group cut shares of 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 dropped 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. Citigroup dropped 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. Piper Sandler cut their price target on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Finally, Benchmark decreased their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Two research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.75.
Read Our Latest Analysis on WFRD
Weatherford International Price Performance
Shares of WFRD stock traded down $5.34 during trading hours on Thursday, hitting $40.59. The company's stock had a trading volume of 434,053 shares, compared to its average volume of 1,065,430. 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 business has a fifty day moving average of $57.51 and a 200-day moving average of $71.75. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 5.96, a P/E/G ratio of 1.65 and a beta of 0.70.
Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its 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 net margin of 9.18% and a return on equity of 40.65%. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Weatherford International's dividend payout ratio (DPR) is 14.88%.
About Weatherford International
(
Free Report)
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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