William Blair Investment Management LLC Has $35.82 Million Position in Weatherford International plc (NASDAQ:WFRD)

William Blair Investment Management LLC raised its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,005 shares of the company’s stock after buying an additional 43,182 shares during the quarter. William Blair Investment Management LLC’s holdings in Weatherford International were worth $35,815,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. KBC Group NV grew its position in shares of Weatherford International by 10.4% in the 3rd quarter. KBC Group NV now owns 1,945 shares of the company’s stock valued at $165,000 after purchasing an additional 184 shares during the period. Lindbrook Capital LLC grew its position in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after purchasing an additional 204 shares during the period. Hancock Whitney Corp grew its position in shares of Weatherford International by 1.9% in the 3rd quarter. Hancock Whitney Corp now owns 14,994 shares of the company’s stock valued at $1,273,000 after purchasing an additional 284 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Weatherford International in the 3rd quarter valued at approximately $42,000. Finally, R Squared Ltd acquired a new position in shares of Weatherford International in the 4th quarter valued at approximately $36,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Up 4.4 %

Shares of Weatherford International stock opened at $55.43 on Tuesday. Weatherford International plc has a 12-month low of $51.24 and a 12-month high of $135.00. The stock has a market cap of $4.04 billion, a P/E ratio of 8.25, a P/E/G ratio of 1.65 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $65.30 and its 200-day moving average is $77.39.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data 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%. Equities research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WFRD. Piper Sandler decreased their price objective on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Barclays reduced their price target on Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Raymond James reduced their price target 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. Benchmark reduced their price target on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $98.00 in a research report on Friday, December 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.63.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the stock in a transaction 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 represents a 30.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now owns 125,019 shares in the company, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,692 shares of company stock worth $6,207,725. Company insiders own 1.60% of the company’s stock.

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.