Price T Rowe Associates Inc. MD Reduces Holdings in Weatherford International plc (NASDAQ:WFRD)

Price T Rowe Associates Inc. MD lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,661,356 shares of the company’s stock after selling 1,750,599 shares during the quarter. Price T Rowe Associates Inc. MD owned about 7.79% of Weatherford International worth $405,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WFRD. Lindbrook Capital LLC boosted its position in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank lifted its stake in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $29,000. R Squared Ltd purchased a new stake in Weatherford International in the fourth quarter worth $36,000. Finally, Covestor Ltd raised its holdings in Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after purchasing an additional 214 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Price Performance

Shares of WFRD opened at $41.44 on Friday. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The company has a market capitalization of $3.02 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The firm has a 50 day moving average of $52.23 and a 200 day moving average of $68.48. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, equities research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Tuesday, May 6th. Weatherford International’s payout ratio is presently 14.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFRD shares. Piper Sandler reduced their target price on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday. Raymond James cut shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $73.00 to $69.00 in a report on Thursday. Benchmark lowered their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Barclays cut their price target on Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and a consensus target price of $100.75.

Insider Transactions at Weatherford International

In related news, CFO Arunava Mitra sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the sale, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This trade represents a 32.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Depinder Sandhu sold 14,000 shares of Weatherford International stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $66.41, for a total transaction of $929,740.00. Following the completion of the sale, the executive vice president now directly owns 8,892 shares of the company’s stock, valued at approximately $590,517.72. This trade represents a 61.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,930 shares of company stock worth $5,861,718 over the last three months. 1.60% of the stock is currently owned by company insiders.

About Weatherford International

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.