King Luther Capital Management Corp Lowers Position in Weatherford International plc (NASDAQ:WFRD)

King Luther Capital Management Corp cut its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 37.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,250 shares of the company's stock after selling 40,106 shares during the quarter. King Luther Capital Management Corp owned approximately 0.09% of Weatherford International worth $4,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Weatherford International by 364.9% during the third 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 period. Entropy Technologies LP bought a new position in Weatherford International in the 3rd quarter worth $1,289,000. Victory Capital Management Inc. lifted 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 worth $26,643,000 after purchasing an additional 16,435 shares during the period. KBC Group NV increased its position in shares of Weatherford International by 10.4% during the third quarter. KBC Group NV now owns 1,945 shares of the company's stock valued at $165,000 after buying an additional 184 shares during the period. Finally, Swiss National Bank raised its stake in Weatherford International by 0.4% in the third quarter. Swiss National Bank now owns 142,900 shares of the company's stock worth $12,135,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on the company. Benchmark reduced their target price on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Raymond James reduced their price target on Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating on the stock in a research note on Friday, February 7th. Piper Sandler lowered 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. Barclays dropped their target price on shares of Weatherford International from $100.00 to $92.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.63.

Insider Buying and Selling at Weatherford International

In related news, 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David John Reed sold 4,762 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now owns 11,109 shares of the company's stock, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,692 shares of company stock worth $6,207,725. Company insiders own 1.60% of the company's stock.

Weatherford International Stock Down 3.4 %

NASDAQ:WFRD traded down $1.83 on Thursday, reaching $51.89. 1,034,972 shares of the stock traded hands, compared to its average volume of 1,289,158. 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 company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 12 month low of $51.24 and a 12 month high of $135.00. The company's fifty day simple moving average is $66.06 and its 200 day simple moving average is $78.51.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced 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%. Equities analysts predict that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, February 21st. Weatherford International's dividend payout ratio (DPR) is 14.88%.

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.