Weatherford International plc (NASDAQ:WFRD) Stock Holdings Lessened by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 32.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,077 shares of the company’s stock after selling 32,789 shares during the period. Congress Wealth Management LLC DE’s holdings in Weatherford International were worth $4,805,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Weatherford International by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company’s stock valued at $551,760,000 after acquiring an additional 270,775 shares during the period. FMR LLC lifted its holdings in shares of Weatherford International by 36.7% in the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after purchasing an additional 959,783 shares during the last quarter. Boston Partners boosted its position in Weatherford International by 5.5% during the 4th quarter. Boston Partners now owns 2,777,128 shares of the company’s stock valued at $198,877,000 after purchasing an additional 144,396 shares during the period. State Street Corp grew its stake in Weatherford International by 3.1% during the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company’s stock worth $192,555,000 after buying an additional 68,553 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Weatherford International by 28.6% in the fourth quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock worth $65,723,000 after buying an additional 204,317 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

WFRD opened at $54.82 on Wednesday. The business has a 50 day moving average price of $63.12 and a two-hundred day moving average price of $75.52. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 1-year low of $51.24 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share 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 predict that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WFRD shares. Barclays lowered their price target on shares of Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Benchmark dropped their price target on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Citigroup lowered their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Piper Sandler reduced their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.63.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David John Reed sold 4,762 shares of Weatherford International stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock valued at $6,207,725 in the last three months. 1.60% of the stock is currently owned by company insiders.

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.