Royce & Associates LP Invests $7.19 Million in Weatherford International plc (NASDAQ:WFRD)

Royce & Associates LP purchased a new stake in Weatherford International plc (NASDAQ:WFRD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 100,367 shares of the company's stock, valued at approximately $7,189,000. Royce & Associates LP owned about 0.14% of Weatherford International as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Lindbrook Capital LLC grew its position in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after acquiring an additional 204 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Weatherford International in the 4th quarter valued at approximately $36,000. Millburn Ridgefield Corp bought a new stake in shares of Weatherford International during the 3rd quarter valued at approximately $42,000. Blue Trust Inc. grew its holdings in shares of Weatherford International by 643.0% during the 4th quarter. Blue Trust Inc. now owns 1,278 shares of the company's stock valued at $92,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Weatherford International by 11,606.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company's stock worth $134,000 after purchasing an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Trading Down 1.2 %

NASDAQ:WFRD traded down $0.63 on Friday, reaching $52.23. 4,730,425 shares of the stock traded hands, compared to its average volume of 987,884. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 1-year low of $51.24 and a 1-year high of $135.00. The company's 50 day moving average is $63.74 and its 200-day moving average is $76.33. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61.

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Weatherford International (NASDAQ:WFRD - Get Free Report) last posted 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 return on equity of 40.65% and a net margin of 9.18%. Equities research analysts anticipate 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 was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.91%. Weatherford International's dividend payout ratio is currently 14.88%.

Insiders Place Their Bets

In other news, EVP David John Reed sold 4,762 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now 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. Over the last three months, insiders sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Barclays lowered their target price on Weatherford International from $100.00 to $92.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Raymond James cut 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. Citigroup lowered their price objective on Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a "buy" rating to a "neutral" rating and cut their target price for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and an average price target of $107.63.

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.