Geode Capital Management LLC Sells 18,246 Shares of Weatherford International PLC $WFRD

Geode Capital Management LLC decreased its holdings in Weatherford International PLC (NASDAQ:WFRD) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,333,358 shares of the company’s stock after selling 18,246 shares during the quarter. Geode Capital Management LLC owned 1.86% of Weatherford International worth $104,370,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in Weatherford International in the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC lifted its position in Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after acquiring an additional 240 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Weatherford International in the 3rd quarter valued at about $41,000. Finally, Farther Finance Advisors LLC lifted its position in Weatherford International by 157.3% in the 4th quarter. Farther Finance Advisors LLC now owns 705 shares of the company’s stock valued at $55,000 after acquiring an additional 431 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Down 6.3%

NASDAQ:WFRD opened at $97.17 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.82. Weatherford International PLC has a 52 week low of $46.20 and a 52 week high of $113.15. The firm has a 50-day moving average price of $103.40 and a two-hundred day moving average price of $93.14.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $1.03 EPS. Weatherford International’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Weatherford International PLC will post 6.13 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. Weatherford International’s dividend payout ratio (DPR) is presently 17.21%.

Analysts Set New Price Targets

WFRD has been the topic of several recent research reports. Zacks Research cut shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Wall Street Zen raised shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. The Goldman Sachs Group raised their price target on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Piper Sandler raised their price target on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada initiated coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.67.

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.