Weatherford International PLC $WFRD Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Weatherford International PLC (NASDAQ:WFRD) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,010,076 shares of the company’s stock after selling 46,331 shares during the quarter. Federated Hermes Inc. owned 1.41% of Weatherford International worth $69,120,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC boosted its position in Weatherford International by 110.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 708,180 shares of the company’s stock valued at $35,629,000 after purchasing an additional 372,192 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Weatherford International in the third quarter valued at $20,725,000. Atlantic Investment Management Inc. boosted its holdings in shares of Weatherford International by 13.0% during the second quarter. Atlantic Investment Management Inc. now owns 647,274 shares of the company’s stock valued at $32,564,000 after acquiring an additional 74,465 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Weatherford International during the second quarter worth about $2,019,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of Weatherford International in the 3rd quarter worth about $4,983,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Down 2.0%

Shares of WFRD stock opened at $91.44 on Thursday. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $93.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 2.07. The business’s fifty day moving average is $80.98 and its 200-day moving average is $69.64. The stock has a market cap of $6.56 billion, a PE ratio of 16.57 and a beta of 0.79.

Weatherford International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 6th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, February 6th. This is a positive change from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s dividend payout ratio is currently 18.12%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WFRD. Citigroup boosted their target price on shares of Weatherford International from $77.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. The Goldman Sachs Group boosted their price objective on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. BMO Capital Markets assumed coverage on Weatherford International in a research note on Friday, October 10th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Piper Sandler increased their price target on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Insider Buying and Selling at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at $1,210,739.25. The trade was a 11.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.