Vestcor Inc Reduces Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Vestcor Inc decreased its holdings in Weatherford International plc (NASDAQ:WFRD) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,974 shares of the company’s stock after selling 4,789 shares during the quarter. Vestcor Inc’s holdings in Weatherford International were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the period. R Squared Ltd purchased a new stake in Weatherford International in the fourth quarter worth $36,000. Millburn Ridgefield Corp purchased a new stake in Weatherford International in the third quarter worth $42,000. Blue Trust Inc. raised its holdings in Weatherford International by 643.0% in the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock worth $92,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Weatherford International by 11,606.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company’s stock worth $134,000 after purchasing an additional 1,857 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock valued at $6,207,725 over the last ninety days. Insiders own 1.60% of the company’s stock.

Weatherford International Trading Up 2.4 %

Weatherford International stock opened at $53.11 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. Weatherford International plc has a one year low of $51.24 and a one year high of $135.00. The stock has a market capitalization of $3.87 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The business’s fifty day moving average is $65.66 and its 200 day moving average is $77.74.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate 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 predict that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of research reports. Benchmark decreased their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. Barclays decreased their price objective on Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Piper Sandler decreased their price objective on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Citigroup decreased their price objective on 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 downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.63.

Weatherford International Profile

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.