Teacher Retirement System of Texas Has $1.35 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

Teacher Retirement System of Texas cut its stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 22.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,780 shares of the company's stock after selling 5,525 shares during the period. Teacher Retirement System of Texas' holdings in Weatherford International were worth $1,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company's stock valued at $303,419,000 after buying an additional 959,783 shares during the last quarter. Boston Partners lifted its stake in Weatherford International by 5.5% in the fourth quarter. Boston Partners now owns 2,777,128 shares of the company's stock valued at $198,877,000 after acquiring an additional 144,396 shares during the last quarter. State Street Corp increased its stake in shares of Weatherford International by 3.1% during the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company's stock worth $192,555,000 after purchasing an additional 68,553 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Weatherford International by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company's stock valued at $65,723,000 after purchasing an additional 204,317 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Weatherford International by 132.1% in the 4th quarter. Victory Capital Management Inc. now owns 728,266 shares of the company's stock valued at $52,166,000 after purchasing an additional 414,528 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

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Weatherford International Stock Performance

WFRD stock traded up $0.07 during midday trading on Wednesday, hitting $54.26. The stock had a trading volume of 764,334 shares, compared to its average volume of 1,024,528. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.65 and a beta of 0.61. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The stock has a 50-day simple moving average of $60.96 and a 200 day simple moving average of $74.12. Weatherford International plc has a 52 week low of $51.24 and a 52 week high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results 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 net margin of 9.18% and a return on equity of 40.65%. As a group, equities research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's dividend payout ratio (DPR) is 14.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WFRD shares. The Goldman Sachs Group lowered Weatherford International from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Piper Sandler cut 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 report on Monday, February 10th. Benchmark lowered their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Citigroup cut their price objective on Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Finally, Barclays lowered their price objective on shares of Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday. 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $106.75.

Insiders Place Their Bets

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the business's stock in a transaction on 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 transaction, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. This represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock worth $6,207,725 over the last three months. 1.60% of the stock is currently owned by corporate 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.