Ethic Inc. Raises Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Ethic Inc. boosted its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 112.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,618 shares of the company’s stock after purchasing an additional 5,615 shares during the period. Ethic Inc.’s holdings in Weatherford International were worth $761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. Capital Research Global Investors grew its position in Weatherford International by 295.9% during the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company’s stock worth $425,894,000 after purchasing an additional 4,443,823 shares during the period. Invesco Ltd. acquired a new stake in Weatherford International during the 4th quarter worth about $104,287,000. Norges Bank acquired a new stake in Weatherford International during the 4th quarter worth about $65,678,000. Fuller & Thaler Asset Management Inc. grew its position in Weatherford International by 181.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company’s stock worth $93,334,000 after purchasing an additional 840,456 shares during the period. Finally, Victory Capital Management Inc. grew its position in Weatherford International by 132.1% during the 4th quarter. Victory Capital Management Inc. now owns 728,266 shares of the company’s stock worth $52,166,000 after purchasing an additional 414,528 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Trading Up 0.9%

WFRD stock opened at $49.99 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 12-month low of $36.74 and a 12-month high of $135.00. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 1.65 and a beta of 0.73. The business’s 50-day moving average is $47.37 and its 200 day moving average is $64.31.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts anticipate that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Tuesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is 16.00%.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, with a total value of $504,480.00. Following the purchase, the director now directly owns 25,311 shares of the company’s stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

WFRD has been the topic of a number of analyst reports. Barclays dropped their target price on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Piper Sandler dropped their target price on Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Citigroup lowered their price objective on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James cut Weatherford International from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Finally, Benchmark lowered their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $96.63.

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.