Weatherford International plc (NASDAQ:WFRD) Shares Sold by SCP Investment LP

SCP Investment LP lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 75.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,830 shares of the company’s stock after selling 8,850 shares during the quarter. SCP Investment LP’s holdings in Weatherford International were worth $203,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in shares of Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company’s stock worth $1,223,000 after acquiring an additional 167 shares during the last quarter. Lindbrook Capital LLC grew its position in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Weatherford International by 3.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,616 shares of the company’s stock valued at $760,000 after purchasing an additional 383 shares during the period. Zions Bancorporation N.A. bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $29,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Weatherford International during the third quarter worth approximately $42,000. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Price Performance

NASDAQ WFRD opened at $53.10 on Friday. The stock has a market capitalization of $3.87 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.65 and a beta of 0.61. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. The business’s fifty day moving average is $62.09 and its two-hundred day moving average is $74.88. Weatherford International plc has a 1 year low of $51.24 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced 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 net margin of 9.18% and a return on equity of 40.65%. On average, research analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is currently 14.88%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The stock was 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 $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. This represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock worth $6,207,725 over the last 90 days. 1.60% of the stock is owned by company insiders.

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.