Picton Mahoney Asset Management lessened its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,640 shares of the company's stock after selling 14,301 shares during the quarter. Picton Mahoney Asset Management's holdings in Weatherford International were worth $2,554,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company's stock valued at $122,356,000 after acquiring an additional 1,219,553 shares in the last quarter. FMR LLC lifted its holdings in Weatherford International by 36.7% in the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company's stock worth $303,419,000 after buying an additional 959,783 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Weatherford International by 132.1% in the 4th quarter. Victory Capital Management Inc. now owns 728,266 shares of the company's stock worth $52,166,000 after buying an additional 414,528 shares in the last quarter. Jennison Associates LLC lifted its holdings in Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company's stock worth $112,443,000 after buying an additional 310,259 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 purchasing an additional 259,924 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.
Insider Activity at Weatherford International
In related news, CFO Arunava Mitra sold 10,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now directly owns 21,072 shares of the company's stock, valued at $1,423,835.04. This represents a 32.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the sale, the executive vice president now directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock valued at $6,207,725 over the last ninety days. Insiders own 1.60% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on WFRD shares. Raymond James lowered their price objective on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a research report on Friday, February 7th. Benchmark reduced their target price 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. Piper Sandler reduced 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. Barclays reduced their target price on shares of Weatherford International from $100.00 to $92.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, Citigroup reduced their target price on shares of Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.63.
Read Our Latest Stock Report on WFRD
Weatherford International Price Performance
Shares of NASDAQ:WFRD traded up $0.05 during trading on Thursday, reaching $52.86. The company had a trading volume of 1,909,256 shares, compared to its average volume of 972,094. The firm's fifty day moving average is $64.49 and its 200 day moving average is $76.86. The firm has a market capitalization of $3.85 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Weatherford International plc has a twelve month low of $51.24 and a twelve month high of $135.00. 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 issued its quarterly earnings results 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 analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.
Weatherford International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's dividend payout ratio is currently 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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