Weatherford International plc (NASDAQ:WFRD) Position Trimmed by Intrust Bank NA

Intrust Bank NA trimmed its stake in Weatherford International plc (NASDAQ:WFRD) by 16.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,963 shares of the company’s stock after selling 761 shares during the quarter. Intrust Bank NA’s holdings in Weatherford International were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WFRD. Pictet Asset Management Holding SA lifted its holdings in shares of Weatherford International by 3.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,616 shares of the company’s stock valued at $760,000 after buying an additional 383 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Weatherford International in the fourth quarter valued at approximately $1,153,000. Norges Bank bought a new stake in Weatherford International in the fourth quarter worth approximately $65,678,000. Zions Bancorporation N.A. acquired a new position in shares of Weatherford International during the 4th quarter worth $29,000. Finally, EFG Asset Management North America Corp. raised its holdings in shares of Weatherford International by 105.4% during the 4th quarter. EFG Asset Management North America Corp. now owns 33,781 shares of the company’s stock valued at $2,420,000 after purchasing an additional 17,332 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Down 2.9 %

Shares of WFRD opened at $53.10 on Monday. The stock’s 50-day moving average price is $62.09 and its 200 day moving average price is $74.78. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 12-month low of $51.24 and a 12-month high of $135.00. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate 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, 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International’s payout ratio is 14.88%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WFRD shares. Benchmark decreased their price target on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler lowered their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Raymond James cut their price objective on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their target price on Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

Insider Activity

In other news, CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.57, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the sale, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,692 shares of company stock worth $6,207,725. Corporate insiders own 1.60% of the company’s stock.

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.