Weatherford International PLC (NASDAQ:WFRD) Shares Acquired by KBC Group NV

KBC Group NV raised its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,754 shares of the company’s stock after acquiring an additional 706 shares during the quarter. KBC Group NV’s holdings in Weatherford International were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in WFRD. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after purchasing an additional 204 shares during the period. Huntington National Bank boosted its position 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. acquired a new stake in shares of Weatherford International in the 4th quarter valued at about $29,000. Fifth Third Bancorp boosted its position in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after purchasing an additional 231 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $42.04 per share, with a total value of $504,480.00. Following the purchase, the director owned 25,311 shares in the company, valued at approximately $1,064,074.44. This represents a 90.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Weatherford International Stock Performance

Shares of WFRD stock opened at $54.18 on Monday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.76. The stock has a 50 day simple moving average of $47.94 and a 200-day simple moving average of $55.71. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $135.00. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. On average, equities analysts forecast that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is 16.00%.

Weatherford International Company 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.