Weatherford International plc (NASDAQ:WFRD) Shares Sold by SCP Investment LP

SCP Investment LP cut its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 75.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830 shares of the company's stock after selling 8,850 shares during the quarter. SCP Investment LP's holdings in Weatherford International were worth $203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after buying an additional 204 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Weatherford International in the 4th quarter worth $29,000. R Squared Ltd purchased a new position in shares of Weatherford International during the 4th quarter worth $36,000. Millburn Ridgefield Corp acquired a new position in shares of Weatherford International during the 3rd quarter valued at about $42,000. Finally, Blue Trust Inc. increased its position in 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 purchasing an additional 1,106 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

WFRD traded down $7.70 during trading on Thursday, hitting $46.56. 766,091 shares of the stock were exchanged, compared to its average volume of 1,023,816. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.39 billion, a P/E ratio of 6.93, a PEG ratio of 1.65 and a beta of 0.61. The stock has a fifty day moving average price of $60.96 and a two-hundred day moving average price of $74.12. Weatherford International plc has a 1-year low of $45.95 and a 1-year high of $135.00.

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

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. Weatherford International's payout ratio is 14.88%.

Insider Buying and Selling at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of Weatherford International 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of the company'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 directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. The trade was a 52.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on WFRD shares. Raymond James dropped 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 research note on Friday, February 7th. Barclays decreased their target price on Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday. Benchmark cut their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut Weatherford International from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Finally, Piper Sandler lowered their price objective on Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.75.

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.