Desmond J. Mills Sells 19,425 Shares of Weatherford International plc (NASDAQ:WFRD) Stock

Weatherford International plc (NASDAQ:WFRD - Get Free Report) CAO Desmond J. Mills sold 19,425 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the sale, the chief accounting officer now owns 17,899 shares of the company's stock, valued at approximately $1,208,361.49. This trade represents a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Weatherford International Stock Performance

Shares of NASDAQ WFRD traded up $6.30 during trading on Thursday, reaching $73.93. 2,432,101 shares of the company traded hands, compared to its average volume of 1,320,158. Weatherford International plc has a 12-month low of $60.45 and a 12-month high of $135.00. The company has a current ratio of 2.80, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The stock has a market cap of $5.39 billion, a P/E ratio of 11.00, a PEG ratio of 1.48 and a beta of 0.60. The firm's fifty day simple moving average is $70.49 and its 200 day simple moving average is $84.97.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its 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%. As a group, research analysts anticipate that Weatherford International plc will post 6.14 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.35%. Weatherford International's dividend payout ratio is presently 14.88%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WFRD. Benchmark cut their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Piper Sandler cut their price objective on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Monday. Evercore ISI cut their price objective on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Raymond James decreased 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 note on Friday, February 7th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Two investment 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.63.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WFRD. Truist Financial Corp grew its position in Weatherford International by 29.4% during the second quarter. Truist Financial Corp now owns 4,481 shares of the company's stock worth $549,000 after buying an additional 1,017 shares during the period. GAMMA Investing LLC boosted its position in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock worth $44,000 after acquiring an additional 141 shares during the last quarter. CWM LLC boosted its position in Weatherford International by 405.4% during the third quarter. CWM LLC now owns 2,790 shares of the company's stock worth $237,000 after acquiring an additional 2,238 shares during the last quarter. Viking Fund Management LLC purchased a new position in Weatherford International during the third quarter worth approximately $1,783,000. Finally, Oliver Luxxe Assets LLC raised its stake in Weatherford International by 80.8% during the third quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company's stock worth $1,781,000 after purchasing an additional 9,372 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.