Insight Wealth Strategies LLC Sells 11,124 Shares of Weatherford International PLC $WFRD

Insight Wealth Strategies LLC trimmed its position in Weatherford International PLC (NASDAQ:WFRD) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,690 shares of the company’s stock after selling 11,124 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Weatherford International were worth $4,828,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WFRD. Quent Capital LLC bought a new position in Weatherford International during the 3rd quarter worth $26,000. Sound Income Strategies LLC bought a new stake in shares of Weatherford International in the third quarter valued at about $35,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Weatherford International in the second quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Weatherford International by 83.5% in the second 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. Finally, Smartleaf Asset Management LLC grew its stake in shares of Weatherford International by 69.8% in the second 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. Institutional investors own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In other news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

WFRD has been the subject of several analyst reports. Royal Bank Of Canada assumed coverage on shares of Weatherford International in a research note on Wednesday. They issued an “outperform” rating and a $105.00 price objective for the company. Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday. Barclays lowered their target price on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Finally, Piper Sandler increased their price target on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.33.

Weatherford International Trading Up 0.1%

Shares of WFRD stock opened at $86.48 on Thursday. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $110.57. The stock’s fifty day moving average price is $94.92 and its two-hundred day moving average price is $79.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. The company has a market cap of $6.20 billion, a PE ratio of 14.58 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.Weatherford International’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. Equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 6th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Weatherford International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 6th. Weatherford International’s dividend payout ratio (DPR) is currently 18.55%.

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.