JPMorgan Chase & Co. decreased its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 16.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 267,104 shares of the company's stock after selling 54,501 shares during the period. JPMorgan Chase & Co. owned about 0.37% of Weatherford International worth $22,682,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in WFRD. FMR LLC boosted its stake in Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company's stock worth $303,419,000 after acquiring an additional 959,783 shares in the last quarter. State Street Corp boosted its position in shares of Weatherford International by 3.1% in 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 in the last quarter. Pacer Advisors Inc. grew its stake in shares of Weatherford International by 551.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company's stock worth $122,356,000 after buying an additional 1,219,553 shares during the last quarter. Jennison Associates LLC raised its stake in Weatherford International by 30.6% during the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company's stock valued at $112,443,000 after buying an additional 310,259 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Weatherford International by 6.2% during the second quarter. Renaissance Technologies LLC now owns 657,953 shares of the company's stock valued at $80,566,000 after buying an additional 38,700 shares during the last quarter. Institutional investors own 97.23% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on WFRD shares. Barclays reduced their price target on Weatherford International from $147.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, December 18th. Piper Sandler began coverage on shares of Weatherford International in a report on Thursday, December 19th. They issued a "neutral" rating and a $87.00 target price for the company. Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Benchmark restated a "buy" rating and issued a $155.00 price objective on shares of Weatherford International in a report on Thursday, October 24th. Finally, The Goldman Sachs Group downgraded 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. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.25.
Check Out Our Latest Research Report on WFRD
Weatherford International Stock Performance
Shares of NASDAQ WFRD traded down $2.67 during midday trading on Thursday, hitting $72.13. 626,659 shares of the stock traded hands, compared to its average volume of 629,952. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. Weatherford International plc has a one year low of $66.23 and a one year high of $135.00. The firm has a market capitalization of $5.24 billion, a P/E ratio of 10.13, a PEG ratio of 0.64 and a beta of 0.64. The firm has a 50-day moving average of $78.26 and a two-hundred day moving average of $94.74.
Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, equities analysts forecast that Weatherford International plc will post 6.85 EPS for the current fiscal year.
Weatherford International Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.39%. Weatherford International's dividend payout ratio (DPR) is 14.04%.
Insider Activity at Weatherford International
In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the firm's stock in a transaction dated 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 $807,179.94. This trade represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Weatherford International Profile
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Free Report)
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.
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