Arunava Mitra Sells 10,000 Shares of Weatherford International plc (NASDAQ:WFRD) Stock

Weatherford International plc (NASDAQ:WFRD) CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the transaction, the chief financial officer now directly owns 21,072 shares of the company’s stock, valued at $1,423,835.04. The trade was a 32.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $67.29 on Wednesday. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.48 and a beta of 0.60. Weatherford International plc has a twelve month low of $60.45 and a twelve month high of $135.00. The company has a current ratio of 2.80, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average of $71.01 and a two-hundred day moving average of $85.17.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, analysts expect that Weatherford International plc will post 6.14 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.49%. Weatherford International’s payout ratio is presently 14.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WFRD. Lindbrook Capital LLC raised its holdings in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares during the period. Zions Bancorporation N.A. purchased a new position in Weatherford International during the 4th quarter worth approximately $29,000. Farther Finance Advisors LLC raised its stake in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares during the period. nVerses Capital LLC purchased a new stake in shares of Weatherford International in the third quarter valued at $34,000. Finally, R Squared Ltd acquired a new stake in shares of Weatherford International in the fourth quarter worth $36,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Piper Sandler reduced their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday. The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $98.00 in a report on Friday, December 13th. Raymond James reduced their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a report on Friday, February 7th. Finally, Evercore ISI lowered their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

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.