US Bancorp DE Sells 7,641 Shares of Weatherford International PLC $WFRD

US Bancorp DE cut its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 76.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,299 shares of the company’s stock after selling 7,641 shares during the quarter. US Bancorp DE’s holdings in Weatherford International were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFRD. Signaturefd LLC grew its position in Weatherford International by 1,002.0% in the first quarter. Signaturefd LLC now owns 1,091 shares of the company’s stock worth $58,000 after acquiring an additional 992 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Weatherford International in the first quarter worth about $445,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 231 shares in the last quarter. Diversified Trust Co purchased a new position in Weatherford International in the first quarter worth about $419,000. Finally, Hara Capital LLC purchased a new position in Weatherford International in the first quarter worth about $1,845,000. 97.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WFRD shares. Citigroup dropped their target price 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. Raymond James Financial restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Barclays dropped their target price on Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Finally, Piper Sandler upgraded Weatherford International from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $62.00 to $73.00 in a research report on Monday, July 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.63.

Weatherford International Stock Down 2.1%

Shares of NASDAQ WFRD opened at $55.29 on Monday. The company has a 50 day simple moving average of $54.11 and a 200-day simple moving average of $52.72. The company has a market capitalization of $3.97 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $111.23.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, equities research analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International’s dividend payout ratio (DPR) is currently 15.48%.

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.