Weatherford International plc (NASDAQ:WFRD) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lowered its position in Weatherford International plc (NASDAQ:WFRD) by 54.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 63,615 shares of the company’s stock after selling 75,241 shares during the quarter. CenterBook Partners LP’s holdings in Weatherford International were worth $4,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank increased its stake in shares of Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Weatherford International during the 4th quarter worth approximately $29,000. R Squared Ltd purchased a new stake in Weatherford International in the 4th quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its holdings in Weatherford International by 643.0% during the 4th quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after buying an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts recently commented on WFRD shares. Benchmark decreased their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Piper Sandler cut their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Raymond James decreased their target price on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Finally, Citigroup cut their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two equities research 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, Weatherford International presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $45.93 on Thursday. The stock has a 50 day simple moving average of $57.51 and a 200-day simple moving average of $71.75. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.35 billion, a PE ratio of 6.83, a P/E/G ratio of 1.65 and a beta of 0.70. Weatherford International plc has a 12-month low of $36.74 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly 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%. On average, equities research analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 2.18%. Weatherford International’s dividend payout ratio is presently 14.88%.

About Weatherford International

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.