Amalgamated Bank Reduces Stock Holdings in Weatherford International PLC (NASDAQ:WFRD)

Amalgamated Bank trimmed its position in Weatherford International PLC (NASDAQ:WFRD) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,895 shares of the company’s stock after selling 992 shares during the period. Amalgamated Bank’s holdings in Weatherford International were worth $1,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC boosted 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 purchasing an additional 204 shares during the last quarter. Huntington National Bank boosted its position 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 during the last quarter. Zions Bancorporation N.A. purchased a new position in Weatherford International in the fourth quarter worth about $29,000. Fifth Third Bancorp boosted its position in Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock worth $35,000 after buying an additional 231 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Trading Down 2.1%

WFRD stock opened at $54.18 on Monday. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $135.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.54 and a beta of 0.76. The business has a 50 day simple moving average of $47.94 and a two-hundred day simple moving average of $55.71.

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. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 1.85%. Weatherford International’s payout ratio is 16.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WFRD shares. Barclays lowered their price objective on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Raymond James Financial cut Weatherford International from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $73.00 to $69.00 in a research report on Thursday, April 24th. Citigroup lowered their price objective on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler lowered their price objective on Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.63.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman purchased 12,000 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the purchase, the director directly owned 25,311 shares of the company’s stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Weatherford International 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.