EFG Asset Management North America Corp. Buys 17,332 Shares of Weatherford International plc (NASDAQ:WFRD)

EFG Asset Management North America Corp. lifted its position in Weatherford International plc (NASDAQ:WFRD) by 105.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,781 shares of the company’s stock after purchasing an additional 17,332 shares during the period. EFG Asset Management North America Corp.’s holdings in Weatherford International were worth $2,420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after buying an additional 959,783 shares during the period. Victory Capital Management Inc. grew its holdings in Weatherford International by 132.1% during the 4th quarter. Victory Capital Management Inc. now owns 728,266 shares of the company’s stock worth $52,166,000 after acquiring an additional 414,528 shares in the last quarter. Vanguard Group Inc. grew its holdings in Weatherford International by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company’s stock worth $551,760,000 after acquiring an additional 270,775 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Weatherford International by 402.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock valued at $27,555,000 after purchasing an additional 259,924 shares in the last quarter. Finally, Cooke & Bieler LP purchased a new stake in shares of Weatherford International in the 4th quarter worth approximately $17,703,000. Institutional investors own 97.23% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Desmond J. Mills sold 19,425 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International 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 sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,692 shares of company stock valued at $6,207,725. Insiders own 1.60% of the company’s stock.

Weatherford International Trading Up 1.8 %

Shares of NASDAQ:WFRD opened at $54.82 on Wednesday. The business’s 50-day moving average is $63.12 and its 200 day moving average is $75.52. 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 $51.24 and a 1 year high of $135.00. The firm has a market capitalization of $3.99 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.65 and a beta of 0.61.

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 return on equity of 40.65% and a net margin of 9.18%. On average, research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Weatherford International’s payout ratio is 14.88%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WFRD. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Barclays cut their price target on Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock 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 research note on Monday, February 10th. Raymond James cut their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 7th. Finally, Citigroup decreased their price target on shares of 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 research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.