Loomis Sayles & Co. L P Sells 50,869 Shares of Weatherford International plc (NASDAQ:WFRD)

Loomis Sayles & Co. L P decreased its position in Weatherford International plc (NASDAQ:WFRD) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,006,593 shares of the company’s stock after selling 50,869 shares during the quarter. Loomis Sayles & Co. L P owned 1.39% of Weatherford International worth $72,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WFRD. Lindbrook Capital LLC increased its holdings in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after buying an additional 204 shares in the last quarter. Zions Bancorporation N.A. bought a new position in Weatherford International in the 4th quarter valued at $29,000. Millburn Ridgefield Corp acquired a new position in Weatherford International in the third quarter worth $42,000. R Squared Ltd bought a new stake in shares of Weatherford International during the fourth quarter worth $36,000. Finally, Blue Trust Inc. increased its stake in shares of Weatherford International by 643.0% in the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after buying an additional 1,106 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Price Performance

NASDAQ WFRD opened at $56.01 on Thursday. The firm’s 50 day moving average is $62.82 and its 200-day moving average is $75.38. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $4.08 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 12-month low of $51.24 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Equities research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. Weatherford International’s dividend payout ratio is 14.88%.

Insiders Place Their Bets

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the sale, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at approximately $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The transaction 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 transaction of $346,006.92. Following the completion of the transaction, the executive vice president now directly owns 11,109 shares of the company’s stock, 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 92,692 shares of company stock valued at $6,207,725 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on WFRD shares. Citigroup decreased their price objective 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. Benchmark dropped their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Raymond James dropped their price target on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler reduced their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Two investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.63.

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.