Clearbridge Investments LLC Has $36.27 Million Position in Weatherford International plc (NASDAQ:WFRD)

Clearbridge Investments LLC raised its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 506,292 shares of the company's stock after buying an additional 227,342 shares during the period. Clearbridge Investments LLC owned 0.70% of Weatherford International worth $36,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $65,678,000. Victory Capital Management Inc. grew its stake in Weatherford International by 132.1% in the fourth quarter. Victory Capital Management Inc. now owns 728,266 shares of the company's stock valued at $52,166,000 after purchasing an additional 414,528 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Weatherford International by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company's stock worth $551,760,000 after purchasing an additional 270,775 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Weatherford International by 402.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company's stock worth $27,555,000 after purchasing an additional 259,924 shares in the last quarter. Finally, Cooke & Bieler LP acquired a new stake in shares of Weatherford International in the 4th quarter valued at approximately $17,703,000. 97.23% of the stock is owned by institutional investors.

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Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded down $5.62 during trading on Friday, reaching $39.79. 3,659,401 shares of the stock were exchanged, compared to its average volume of 1,040,242. Weatherford International plc has a 12 month low of $37.00 and a 12 month high of $135.00. The stock has a 50-day moving average price of $60.46 and a 200-day moving average price of $73.92. 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 firm has a market cap of $2.90 billion, a PE ratio of 5.92, a PEG ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Research analysts expect that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, February 21st. Weatherford International's dividend payout ratio is 14.88%.

Insiders Place Their Bets

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David John Reed sold 4,762 shares of Weatherford International 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 completion of the transaction, the executive vice president now directly owns 11,109 shares of the company's stock, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock worth $6,207,725 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group cut shares of Weatherford International from a "buy" rating to a "neutral" rating and dropped their target price for the company from $132.00 to $98.00 in a report on Friday, December 13th. Citigroup reduced their price target on Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, December 20th. Benchmark lowered their price target 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 cut their price objective on Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Two investment 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. According to MarketBeat.com, Weatherford International has an average rating of "Moderate Buy" and a consensus target price of $106.75.

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.