Wells Fargo & Company MN Has $775,000 Holdings in Weatherford International plc (NASDAQ:WFRD)

Wells Fargo & Company MN decreased its position in Weatherford International plc (NASDAQ:WFRD) by 72.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,823 shares of the company’s stock after selling 27,812 shares during the quarter. Wells Fargo & Company MN’s holdings in Weatherford International were worth $775,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank boosted its holdings in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in Weatherford International during the fourth quarter worth $29,000. R Squared Ltd bought a new position in Weatherford International during the fourth quarter valued at about $36,000. Finally, Blue Trust Inc. lifted its position 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 worth $92,000 after buying an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Activity

In related news, CAO Desmond J. Mills sold 19,425 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Arunava Mitra sold 10,000 shares of Weatherford International stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the transaction, the chief financial officer now directly owns 21,072 shares of the company’s stock, valued at $1,423,835.04. This represents a 32.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,425 shares of company stock worth $2,916,822. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the topic of a number of recent analyst reports. Raymond James downgraded Weatherford International from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Benchmark dropped their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Barclays decreased their target price on Weatherford International from $85.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.75.

Weatherford International Stock Up 2.9 %

WFRD stock opened at $42.61 on Friday. The business’s 50-day simple moving average is $49.60 and its 200 day simple moving average is $66.74. 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 plc has a twelve month low of $36.74 and a twelve month high of $135.00. The company has a market cap of $3.09 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. On average, research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders 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 yield of 2.35%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International’s payout ratio is 16.00%.

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.