Cooke & Bieler LP Takes Position in Weatherford International plc (NASDAQ:WFRD)

Cooke & Bieler LP bought a new stake in Weatherford International plc (NASDAQ:WFRD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 247,140 shares of the company’s stock, valued at approximately $17,703,000. Cooke & Bieler LP owned about 0.34% of Weatherford International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFRD. Moran Wealth Management LLC raised its stake in Weatherford International by 11.8% during the 4th quarter. Moran Wealth Management LLC now owns 6,260 shares of the company’s stock valued at $448,000 after acquiring an additional 661 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Weatherford International by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,803 shares of the company’s stock valued at $1,347,000 after acquiring an additional 821 shares during the last quarter. Amundi raised its stake in Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company’s stock valued at $2,813,000 after acquiring an additional 23,685 shares during the last quarter. Lindbrook Capital LLC increased its position in Weatherford International by 130.8% during 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 period. Finally, Raymond James Financial Inc. acquired a new position in Weatherford International during the 4th quarter worth approximately $7,215,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Price Performance

WFRD stock opened at $51.95 on Tuesday. Weatherford International plc has a 1 year low of $51.47 and a 1 year high of $135.00. 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 stock’s 50 day moving average price is $67.21 and its 200 day moving average price is $79.27. The firm has a market cap of $3.78 billion, a P/E ratio of 7.73, a PEG ratio of 1.65 and a beta of 0.61.

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

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, February 21st. Weatherford International’s dividend payout ratio is presently 14.88%.

Analyst Ratings Changes

WFRD has been the topic of several recent analyst reports. Citigroup dropped their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Benchmark dropped their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group cut 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 research report on Friday, December 13th. 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. Finally, Raymond James lowered their price target on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

Insiders Place Their Bets

In other Weatherford International 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 transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. This represents a 30.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock valued at $6,207,725 in the last quarter. 1.60% of the stock is currently owned by company insiders.

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.