Magnetar Financial LLC Has $1.84 Million Stake in Weatherford International plc (NASDAQ:WFRD)

Magnetar Financial LLC lowered its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 66.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,664 shares of the company's stock after selling 51,167 shares during the quarter. Magnetar Financial LLC's holdings in Weatherford International were worth $1,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WFRD. Lindbrook Capital LLC grew its stake 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 during the last quarter. R Squared Ltd bought a new stake in Weatherford International during the 4th quarter worth approximately $36,000. Millburn Ridgefield Corp acquired a new stake in Weatherford International during the 3rd quarter valued at $42,000. Blue Trust Inc. raised its position in Weatherford International by 643.0% in the 4th quarter. Blue Trust Inc. now owns 1,278 shares of the company's stock valued at $92,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Weatherford International by 11,606.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company's stock valued at $134,000 after purchasing an additional 1,857 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Trading Up 1.8 %

Shares of WFRD traded up $0.95 on Tuesday, reaching $54.82. 1,057,449 shares of the company's stock were exchanged, compared to its average volume of 992,253. The business has a 50 day moving average price of $63.41 and a two-hundred day moving average price of $75.76. Weatherford International plc has a 12 month low of $51.24 and a 12 month high of $135.00. The stock has a market capitalization of $3.99 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26.

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Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its 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%. Research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's payout ratio is 14.88%.

Insiders Place Their Bets

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now owns 17,899 shares in the company, valued at approximately $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,692 shares of company stock worth $6,207,725. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

WFRD has been the topic of several research analyst reports. The Goldman Sachs Group lowered Weatherford International from a "buy" rating to a "neutral" rating and lowered 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 objective on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating on the stock in a report on Friday, February 7th. Barclays dropped 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 note on Thursday, February 13th. Citigroup lowered their price target on shares of Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, Benchmark dropped their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Two investment 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 company's stock. According to MarketBeat.com, Weatherford International currently has an average rating of "Moderate Buy" and a consensus price target of $107.63.

About Weatherford International

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.