Fmr LLC Has $260.66 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

FMR LLC grew its stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,638,934 shares of the company's stock after purchasing an additional 65,931 shares during the quarter. FMR LLC owned 5.01% of Weatherford International worth $260,657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in Weatherford International by 4.8% in the 4th quarter. Russell Investments Group Ltd. now owns 41,996 shares of the company's stock worth $3,008,000 after buying an additional 1,918 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Weatherford International during the 4th quarter worth $1,184,000. Cynosure Group LLC increased its holdings in Weatherford International by 16.9% in the fourth quarter. Cynosure Group LLC now owns 13,483 shares of the company's stock valued at $966,000 after buying an additional 1,946 shares during the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Weatherford International during the 4th quarter valued at approximately $481,000. Finally, Huntington National Bank lifted its position in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of recent research reports. 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 note on Friday, February 7th. Citigroup decreased their price target 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. Barclays dropped their price objective on Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Piper Sandler decreased their target price on Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Finally, 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 report 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 company. According to data from MarketBeat, Weatherford International presently has an average rating of "Moderate Buy" and an average price target of $103.75.

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Insider Activity

In related news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by corporate insiders.

Weatherford International Trading Down 0.0 %

NASDAQ WFRD traded down $0.01 on Tuesday, hitting $43.48. 774,615 shares of the company were exchanged, compared to its average volume of 1,076,559. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The company's 50 day moving average price is $56.16 and its 200-day moving average price is $70.68. The firm has a market capitalization of $3.17 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

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

Weatherford International Dividend Announcement

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 $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Weatherford International's dividend payout ratio (DPR) is presently 14.88%.

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.