Cynosure Group LLC Has $966,000 Stake in Weatherford International plc (NASDAQ:WFRD)

Cynosure Group LLC grew its stake in Weatherford International plc (NASDAQ:WFRD) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,483 shares of the company’s stock after acquiring an additional 1,946 shares during the quarter. Cynosure Group LLC’s holdings in Weatherford International were worth $966,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in shares of 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. Huntington National Bank raised its position in shares of 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 during the period. Zions Bancorporation N.A. acquired a new stake in Weatherford International during the 4th quarter worth approximately $29,000. R Squared Ltd acquired a new position in Weatherford International in the 4th quarter worth $36,000. Finally, Millburn Ridgefield Corp acquired a new position in Weatherford International in the 3rd quarter worth $42,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

WFRD has been the subject of several recent research reports. Benchmark reduced their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Piper Sandler decreased their price target on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Barclays reduced their target price on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Finally, Citigroup reduced their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD opened at $54.19 on Wednesday. The firm has a market cap of $3.95 billion, a PE ratio of 8.06, a PEG ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 12-month low of $51.24 and a 12-month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average price is $61.30 and its two-hundred day moving average price is $74.26.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share 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%. Equities research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Insider Activity at Weatherford International

In other news, EVP David John Reed sold 4,762 shares of the business’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 transaction, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock worth $6,207,725 over the last quarter. Company insiders own 1.60% of the company’s stock.

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.