Huntington National Bank Purchases 257 Shares of Weatherford International plc (NASDAQ:WFRD)

Huntington National Bank grew its position in shares of Weatherford International plc (NASDAQ:WFRD) by 190.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392 shares of the company’s stock after acquiring an additional 257 shares during the quarter. Huntington National Bank’s holdings in Weatherford International were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFRD. Lindbrook Capital LLC raised its holdings in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in Weatherford International during the 4th quarter worth approximately $29,000. R Squared Ltd purchased a new stake in shares of Weatherford International in the fourth quarter worth approximately $36,000. Blue Trust Inc. lifted its holdings in shares of Weatherford International by 643.0% in the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Weatherford International by 11,606.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company’s stock valued at $134,000 after buying an additional 1,857 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $39.17 on Wednesday. The company has a market capitalization of $2.85 billion, a P/E ratio of 5.83, a P/E/G ratio of 1.65 and a beta of 0.70. The business has a fifty day simple moving average of $58.22 and a two-hundred day simple moving average of $72.28. 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 1 year low of $36.53 and a 1 year high of $135.00.

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

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is currently 14.88%.

Insider Activity at Weatherford International

In other Weatherford International news, CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the sale, the chief financial officer now owns 21,072 shares of the company’s stock, valued at $1,423,835.04. The trade was a 32.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Depinder Sandhu sold 14,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $66.41, for a total value of $929,740.00. Following the completion of the transaction, the executive vice president now directly owns 8,892 shares of the company’s stock, valued at $590,517.72. The trade was a 61.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on WFRD. The Goldman Sachs Group cut Weatherford International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays cut their price target on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Benchmark decreased their price objective 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. Piper Sandler cut their target price on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Raymond James decreased their price target on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

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.