Diversified Trust Co. Has $1.20 Million Position in Weatherford International PLC $WFRD

Diversified Trust Co. increased its stake in Weatherford International PLC (NASDAQ:WFRD) by 105.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,361 shares of the company’s stock after acquiring an additional 7,902 shares during the quarter. Diversified Trust Co.’s holdings in Weatherford International were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Holocene Advisors LP boosted its position in shares of Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after purchasing an additional 1,443,512 shares in the last quarter. Federated Hermes Inc. increased its holdings in Weatherford International by 1,005.3% in the second quarter. Federated Hermes Inc. now owns 1,056,407 shares of the company’s stock worth $53,148,000 after purchasing an additional 960,832 shares in the last quarter. Norges Bank bought a new stake in Weatherford International in the second quarter worth approximately $41,542,000. Millennium Management LLC lifted its stake in Weatherford International by 154.3% in the third quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after buying an additional 703,401 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in Weatherford International by 1,084.6% in the second quarter. Balyasny Asset Management L.P. now owns 686,010 shares of the company’s stock valued at $34,513,000 after buying an additional 628,100 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on WFRD shares. Zacks Research raised shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Barclays dropped their price objective on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Piper Sandler increased their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. UBS Group raised their target price on Weatherford International from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group upped their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.33.

Weatherford International Stock Down 1.1%

Weatherford International stock opened at $95.94 on Friday. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $110.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. The firm’s 50-day simple moving average is $95.49 and its 200 day simple moving average is $80.71. The stock has a market cap of $6.88 billion, a PE ratio of 16.18 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $1.50 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts predict that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was 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 presently 18.55%.

Insider Activity

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.09% of the company’s stock.

Weatherford International Profile

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.