Depinder Sandhu Sells 14,000 Shares of Weatherford International plc (NASDAQ:WFRD) Stock

Weatherford International plc (NASDAQ:WFRD) EVP Depinder Sandhu sold 14,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $66.41, for a total value of $929,740.00. Following the transaction, the executive vice president now directly owns 8,892 shares in the company, valued at $590,517.72. The trade was a 61.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Weatherford International Stock Performance

Shares of WFRD opened at $67.29 on Wednesday. The stock has a fifty day moving average price of $71.01 and a 200-day moving average price of $85.17. The company has a current ratio of 2.80, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 12 month low of $60.45 and a 12 month high of $135.00. The firm has a market cap of $4.89 billion, a PE ratio of 10.01, a P/E/G ratio of 1.48 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last posted its quarterly 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%. Equities research analysts predict that Weatherford International plc will post 6.14 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.49%. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Weatherford International by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company’s stock worth $551,760,000 after buying an additional 270,775 shares during the last quarter. FMR LLC lifted its holdings in Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after acquiring an additional 959,783 shares during the period. Boston Partners boosted its position in Weatherford International by 5.5% in the 4th quarter. Boston Partners now owns 2,777,128 shares of the company’s stock worth $198,877,000 after purchasing an additional 144,396 shares in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 68,553 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after purchasing an additional 1,219,553 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WFRD shares. The Goldman Sachs Group cut shares of 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 report on Friday, December 13th. Raymond James cut 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. Piper Sandler reduced their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup dropped 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, Benchmark reduced their price target on 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $109.25.

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.