Weatherford International plc (NASDAQ:WFRD) EVP David John Reed Sells 4,762 Shares of Stock

Weatherford International plc (NASDAQ:WFRD) EVP David John Reed sold 4,762 shares of Weatherford International stock in a transaction dated 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 owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Weatherford International Stock Down 3.6 %

Shares of NASDAQ:WFRD opened at $72.13 on Thursday. The firm has a fifty day moving average of $78.40 and a 200 day moving average of $94.90. Weatherford International plc has a 52-week low of $66.23 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The firm has a market capitalization of $5.24 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data 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. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm posted $1.66 EPS. Weatherford International’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, November 6th. Weatherford International’s dividend payout ratio is presently 14.04%.

Hedge Funds Weigh In On Weatherford International

A number of large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC purchased a new position in shares of Weatherford International in the third quarter valued at about $34,000. Millburn Ridgefield Corp bought a new position in shares of Weatherford International during the third quarter valued at about $42,000. GAMMA Investing LLC boosted its holdings in shares of Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after purchasing an additional 141 shares during the period. Finally, Park Place Capital Corp grew its stake in shares of Weatherford International by 1,516.2% in the third quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after purchasing an additional 561 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Bank of America decreased their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler started coverage on shares of Weatherford International in a research report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Barclays cut their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

Weatherford International Company 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.