Wellington Management Group LLP Sells 143,678 Shares of Weatherford International plc (NASDAQ:WFRD)

Wellington Management Group LLP trimmed its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 92.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,537 shares of the company's stock after selling 143,678 shares during the quarter. Wellington Management Group LLP's holdings in Weatherford International were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Weatherford International in the 3rd quarter worth approximately $571,000. New York Life Investment Management LLC bought a new position in shares of Weatherford International during the fourth quarter valued at $546,000. Amundi raised its position 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 boosted its stake in 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, Raymond James Financial Inc. purchased a new stake in Weatherford International during the 4th quarter valued at about $7,215,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Trading Up 5.4 %

NASDAQ WFRD traded up $2.40 on Friday, hitting $46.68. 1,332,522 shares of the stock were exchanged, compared to its average volume of 1,084,226. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00. The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.95, a P/E/G ratio of 1.65 and a beta of 0.70. The stock has a fifty day moving average price of $54.43 and a two-hundred day moving average price of $69.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued 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 net margin of 9.18% and a return on equity of 40.65%. Research analysts forecast that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Friday, February 21st. Weatherford International's payout ratio is currently 14.88%.

Analysts Set New Price Targets

WFRD has been the subject of several analyst reports. Piper Sandler reduced their price target on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Citigroup lowered their price target on Weatherford International from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Barclays reduced their price objective on Weatherford International from $92.00 to $85.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Raymond James lowered their target price on shares of Weatherford International from $97.00 to $73.00 and set a "strong-buy" rating on the stock in a research note on Monday. Finally, Benchmark reduced their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Two research 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. Based on data from MarketBeat.com, Weatherford International has an average rating of "Moderate Buy" and a consensus target price of $103.75.

Insiders Place Their Bets

In other Weatherford International news, CFO Arunava Mitra sold 10,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the completion of the sale, the chief financial officer now directly owns 21,072 shares of the company's stock, valued at $1,423,835.04. The trade was a 32.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction that occurred 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 sale, the executive vice president now directly owns 125,019 shares of the company's stock, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,930 shares of company stock worth $5,861,718 over the last quarter. Company insiders own 1.60% of the company's stock.

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.