Congress Wealth Management LLC DE Has $4.81 Million Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Congress Wealth Management LLC DE lessened its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,077 shares of the company's stock after selling 32,789 shares during the period. Congress Wealth Management LLC DE owned 0.09% of Weatherford International worth $4,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WFRD. Virtu Financial LLC acquired a new position in Weatherford International during the 3rd quarter valued at about $571,000. New York Life Investment Management LLC bought a new position in Weatherford International during the fourth quarter valued at about $546,000. Amundi grew its stake in shares of Weatherford International by 154.7% in the 4th quarter. Amundi now owns 38,993 shares of the company's stock worth $2,813,000 after purchasing an additional 23,685 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Weatherford International by 9.5% in the 4th quarter. William Blair Investment Management LLC now owns 500,005 shares of the company's stock worth $35,815,000 after purchasing an additional 43,182 shares in the last quarter. Finally, Barclays PLC lifted its stake in Weatherford International by 59.4% during the third quarter. Barclays PLC now owns 31,349 shares of the company's stock valued at $2,663,000 after purchasing an additional 11,680 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, EVP David John Reed sold 4,762 shares of the company'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 in the company, 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 can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the transaction, the executive vice president now owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock valued at $6,207,725 in the last quarter. Insiders own 1.60% of the company's stock.

Weatherford International Stock Down 2.9 %

Shares of NASDAQ:WFRD traded down $1.59 on Friday, reaching $53.10. The company had a trading volume of 717,305 shares, compared to its average volume of 1,025,644. The stock has a market capitalization of $3.87 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.65 and a beta of 0.61. The stock has a 50-day moving average price of $62.09 and a 200 day moving average price of $74.78. Weatherford International plc has a twelve month low of $51.24 and a twelve month high of $135.00. 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 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%. On average, equities analysts expect that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.88%. Weatherford International's dividend payout ratio (DPR) is presently 14.88%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFRD. Piper Sandler reduced their price objective 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. The Goldman Sachs Group downgraded shares of Weatherford International from a "buy" rating to a "neutral" rating and cut their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Raymond James decreased their price target on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a report on Friday, February 7th. Benchmark dropped their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Citigroup reduced 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.63.

Weatherford International 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.