Weatherford International plc (NASDAQ:WFRD) Stock Holdings Trimmed by Vestcor Inc

Vestcor Inc reduced its position in Weatherford International plc (NASDAQ:WFRD - Free Report) by 34.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,974 shares of the company's stock after selling 4,789 shares during the period. Vestcor Inc's holdings in Weatherford International were worth $643,000 as of its most recent SEC filing.

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

Weatherford International Stock Up 0.1 %

Shares of NASDAQ WFRD traded up $0.05 during midday trading on Thursday, reaching $52.86. 1,882,839 shares of the company's stock were exchanged, compared to its average volume of 971,989. Weatherford International plc has a 52-week low of $51.24 and a 52-week high of $135.00. The stock 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. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. The business's fifty day moving average price is $64.49 and its two-hundred day moving average price is $76.86.

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Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) 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%. Analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. 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 payout ratio is 14.88%.

Analysts Set New Price Targets

WFRD has been the topic of a number of research analyst reports. Barclays reduced their target price on Weatherford International from $100.00 to $92.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Raymond James reduced their target price on Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating on the stock in a report on Friday, February 7th. Citigroup reduced their target price on Weatherford International from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Piper Sandler cut their price objective on Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Finally, The Goldman Sachs Group lowered Weatherford International from a "buy" rating to a "neutral" rating and cut their price objective for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Two 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $107.63.

Insider Transactions at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the business'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 directly owns 11,109 shares of the company's stock, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business'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 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. Over the last ninety days, insiders have sold 92,692 shares of company stock valued at $6,207,725. 1.60% of the stock is currently owned by insiders.

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.