KLP Kapitalforvaltning AS Invests $1.07 Million in Weatherford International plc (NASDAQ:WFRD)

KLP Kapitalforvaltning AS bought a new stake in Weatherford International plc (NASDAQ:WFRD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,900 shares of the company's stock, valued at approximately $1,067,000.

A number of other institutional investors have also added to or reduced their stakes in WFRD. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Weatherford International during the 3rd quarter valued at $213,000. FMR LLC grew its holdings in shares of Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company's stock valued at $303,419,000 after buying an additional 959,783 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Weatherford International by 4.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,982 shares of the company's stock worth $1,527,000 after acquiring an additional 723 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Weatherford International by 402.6% in 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 acquiring an additional 259,924 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in Weatherford International by 223.3% in the 3rd quarter. Verition Fund Management LLC now owns 26,533 shares of the company's stock valued at $2,253,000 after acquiring an additional 18,326 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

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Weatherford International Stock Performance

WFRD traded down $7.57 during midday trading on Thursday, reaching $46.69. The company had a trading volume of 369,418 shares, compared to its average volume of 1,022,199. The business has a 50-day moving average price of $60.96 and a two-hundred day moving average price of $74.12. 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 plc has a 12-month low of $46.47 and a 12-month high of $135.00. The stock has a market cap of $3.40 billion, a PE ratio of 6.93, a P/E/G ratio of 1.65 and a beta of 0.61.

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 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%. On average, sell-side analysts expect that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's dividend payout ratio (DPR) is currently 14.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WFRD shares. Benchmark dropped 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. Citigroup dropped their price objective on Weatherford International from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Raymond James reduced their target price on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a research note on Friday, February 7th. Barclays decreased their price objective on shares of Weatherford International from $92.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Piper Sandler cut their target price on Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.75.

Insider Activity at Weatherford International

In other news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. The trade was a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 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.