HighTower Advisors LLC Has $621,000 Position in Weatherford International plc (NASDAQ:WFRD)

HighTower Advisors LLC raised its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,676 shares of the company’s stock after purchasing an additional 1,243 shares during the quarter. HighTower Advisors LLC’s holdings in Weatherford International were worth $621,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cooke & Bieler LP purchased a new stake in shares of Weatherford International in the fourth quarter worth approximately $17,703,000. Moran Wealth Management LLC grew its holdings in Weatherford International by 11.8% during the fourth quarter. Moran Wealth Management LLC now owns 6,260 shares of the company’s stock worth $448,000 after buying an additional 661 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Weatherford International by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,803 shares of the company’s stock valued at $1,347,000 after buying an additional 821 shares during the last quarter. Amundi lifted its stake in Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company’s stock valued at $2,813,000 after acquiring an additional 23,685 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In other news, CAO Desmond J. Mills sold 19,425 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at $1,208,361.49. The trade was a 52.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays lowered their target price on shares of Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Benchmark decreased their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Raymond James cut their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 7th. Citigroup reduced their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Piper Sandler dropped their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and an average price target of $107.63.

Weatherford International Trading Down 2.9 %

NASDAQ:WFRD opened at $53.10 on Friday. Weatherford International plc has a 12 month low of $51.24 and a 12 month high of $135.00. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $62.09 and its 200 day moving average is $74.88. The stock has a market capitalization of $3.87 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last posted 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 return on equity of 40.65% and a net margin of 9.18%. Sell-side analysts expect that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

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.