Weatherford International plc (NASDAQ:WFRD) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its holdings in shares of Weatherford International plc (NASDAQ:WFRDFree Report) by 27.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 652,474 shares of the company’s stock after selling 251,081 shares during the quarter. Congress Asset Management Co. owned 0.90% of Weatherford International worth $46,737,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WFRD. Virtu Financial LLC acquired a new stake in shares of Weatherford International in the third quarter worth $571,000. Barclays PLC boosted its position in Weatherford International by 59.4% during the 3rd quarter. Barclays PLC now owns 31,349 shares of the company’s stock worth $2,663,000 after purchasing an additional 11,680 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock valued at $2,728,000 after purchasing an additional 29,530 shares in the last quarter. New York State Common Retirement Fund raised its position in Weatherford International by 6.8% in the third quarter. New York State Common Retirement Fund now owns 203,106 shares of the company’s stock valued at $17,248,000 after purchasing an additional 13,007 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Weatherford International by 67.3% during the third quarter. Point72 Asset Management L.P. now owns 143,900 shares of the company’s stock worth $12,220,000 after purchasing an additional 57,866 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP David John Reed sold 4,762 shares of the company’s 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at $8,272,507.23. The trade was a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock worth $6,207,725 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays dropped their target price on Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore ISI dropped their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Benchmark decreased their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Citigroup lowered their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued 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.

View Our Latest Analysis on WFRD

Weatherford International Trading Down 4.6 %

Shares of NASDAQ WFRD opened at $70.54 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.80. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.48 and a beta of 0.60. The business has a 50 day simple moving average of $70.35 and a 200 day simple moving average of $84.45. Weatherford International plc has a 52 week low of $60.45 and a 52 week high of $135.00.

Weatherford International (NASDAQ:WFRDGet Free Report) last announced 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 return on equity of 40.65% and a net margin of 9.18%. On average, research analysts predict that Weatherford International plc will post 6.14 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is 14.88%.

About Weatherford International

(Free Report)

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.

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Institutional Ownership by Quarter for Weatherford International (NASDAQ:WFRD)

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