Weatherford International plc (NASDAQ:WFRD) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 83.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,170 shares of the company's stock after selling 16,009 shares during the quarter. Prudential Financial Inc.'s holdings in Weatherford International were worth $227,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Weatherford International by 132.1% during the 4th quarter. Victory Capital Management Inc. now owns 728,266 shares of the company's stock worth $52,166,000 after purchasing an additional 414,528 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 period. Cooke & Bieler LP acquired a new stake in shares of Weatherford International during the 4th quarter worth about $17,703,000. Van ECK Associates Corp boosted its stake in Weatherford International by 28.6% during the fourth quarter. Van ECK Associates Corp now owns 917,530 shares of the company's stock worth $65,723,000 after buying an additional 204,317 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Weatherford International by 63.3% in the 3rd quarter. Franklin Resources Inc. now owns 461,790 shares of the company's stock valued at $43,007,000 after acquiring an additional 179,064 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $1.00 during trading hours on Wednesday, reaching $44.48. 56,633 shares of the company's stock were exchanged, compared to its average volume of 1,074,558. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 6.63, 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 company has a 50-day moving average of $55.72 and a 200 day moving average of $70.49.

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 (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 anticipate that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 2.25%. Weatherford International's dividend payout ratio is currently 14.88%.

Insiders Place Their Bets

In related news, CAO Desmond J. Mills sold 19,425 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares of the company's stock, valued at $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 directly owns 21,072 shares in the company, valued at $1,423,835.04. This represents a 32.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.