Congress Asset Management Co. Sells 251,081 Shares of Weatherford International plc (NASDAQ:WFRD)

Congress Asset Management Co. reduced its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 652,474 shares of the company's stock after selling 251,081 shares during the period. Congress Asset Management Co. owned 0.90% of Weatherford International worth $46,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. Farther Finance Advisors LLC increased its stake in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Weatherford International during the third quarter worth about $34,000. R Squared Ltd bought a new stake in shares of Weatherford International during the fourth quarter worth about $36,000. Millburn Ridgefield Corp bought a new stake in shares of Weatherford International during the third quarter worth about $42,000. Finally, Blue Trust Inc. increased its position 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 acquiring an additional 1,106 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFRD. Barclays decreased their target price on shares of Weatherford International from $100.00 to $92.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Raymond James decreased their target price on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Weatherford International from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Evercore ISI decreased their target price on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler cut their price target on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.63.

Insider Activity

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the firm's stock in a transaction that occurred on 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 directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the completion of the transaction, the executive vice president now directly owns 11,109 shares of the company's stock, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock valued at $6,207,725 in the last three months. Company insiders own 1.60% of the company's stock.

Weatherford International Stock Down 1.5 %

Weatherford International stock traded down $1.08 during midday trading on Wednesday, hitting $71.14. 1,059,490 shares of the stock were exchanged, compared to its average volume of 1,336,436. Weatherford International plc has a 52-week low of $60.45 and a 52-week high of $135.00. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The business's 50-day moving average price is $70.12 and its 200-day moving average price is $83.68. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26.

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 net margin of 9.18% and a return on equity of 40.65%. On average, research analysts expect that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, February 21st. Weatherford International's dividend payout ratio is currently 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.