Vident Advisory LLC Purchases New Stake in Weatherford International plc (NASDAQ:WFRD)

Vident Advisory LLC bought a new position in shares of Weatherford International plc (NASDAQ:WFRD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,141 shares of the company’s stock, valued at approximately $1,085,000.

A number of other institutional investors also recently bought and sold shares of the company. Xponance Inc. boosted its position in 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 purchasing an additional 167 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Weatherford International by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company’s stock worth $2,273,000 after purchasing an additional 200 shares in the last quarter. Lindbrook Capital LLC boosted its position in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares in the last quarter. Covestor Ltd boosted its position in Weatherford International by 30.1% during the fourth quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after purchasing an additional 214 shares in the last quarter. Finally, Huntington National Bank boosted its position in Weatherford International by 190.4% during the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WFRD. Barclays decreased their target price on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Raymond James downgraded Weatherford International from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Citigroup reduced their price objective on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler reduced their price objective on Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Benchmark reduced their price objective 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.63.

Insider Activity at Weatherford International

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the purchase, the director now owns 25,311 shares of the company’s stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.09% of the company’s stock.

Weatherford International Stock Down 1.4%

Shares of NASDAQ:WFRD opened at $45.50 on Friday. 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 52-week low of $36.74 and a 52-week high of $135.00. The stock’s fifty day simple moving average is $46.50 and its 200-day simple moving average is $62.75. The company has a market capitalization of $3.30 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.65 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, equities research analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.20%. Weatherford International’s payout ratio is currently 16.00%.

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.