Weatherford International plc (NASDAQ:WFRD) Shares Sold by CenterBook Partners LP

CenterBook Partners LP cut its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 54.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,615 shares of the company's stock after selling 75,241 shares during the period. CenterBook Partners LP owned about 0.09% of Weatherford International worth $4,557,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WFRD. Virtu Financial LLC bought a new position in Weatherford International in the third quarter worth approximately $571,000. New York Life Investment Management LLC purchased a new stake in shares of Weatherford International in the 4th quarter worth $546,000. Amundi grew its position in shares of Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company's stock worth $2,813,000 after buying an additional 23,685 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Weatherford International by 9.5% during the fourth quarter. William Blair Investment Management LLC now owns 500,005 shares of the company's stock valued at $35,815,000 after buying an additional 43,182 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Weatherford International in the fourth quarter valued at about $7,215,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Weatherford International

In related news, CFO Arunava Mitra sold 10,000 shares of Weatherford International stock in a transaction that occurred on 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 owns 21,072 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,930 shares of company stock worth $5,861,718. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays dropped their target price on Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Piper Sandler lowered their target price on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Citigroup reduced their target price on Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Benchmark decreased their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Raymond James lowered their target price on Weatherford International from $97.00 to $73.00 and set a "strong-buy" rating on the stock in a research note on Monday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.75.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $0.49 during mid-day trading on Tuesday, reaching $43.98. The company's stock had a trading volume of 237,962 shares, compared to its average volume of 1,074,541. The stock has a market capitalization of $3.20 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.65 and a beta of 0.70. Weatherford International plc has a 1-year low of $36.74 and a 1-year high of $135.00. The stock has a 50-day moving average of $56.16 and a two-hundred day moving average of $70.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share 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%. On average, equities research analysts anticipate that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's payout ratio is presently 14.88%.

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.