Weatherford International plc (NASDAQ:WFRD) Shares Sold by Webs Creek Capital Management LP

Webs Creek Capital Management LP lowered its stake in Weatherford International plc (NASDAQ:WFRD) by 48.0% during the first quarter, Holdings Channel.com reports. The firm owned 135,234 shares of the company’s stock after selling 124,826 shares during the quarter. Weatherford International accounts for about 6.3% of Webs Creek Capital Management LP’s portfolio, making the stock its 10th largest position. Webs Creek Capital Management LP’s holdings in Weatherford International were worth $15,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International during the fourth quarter worth approximately $27,000. Parallel Advisors LLC increased its position in shares of Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Weatherford International during the 1st quarter worth $29,000. Finally, CWM LLC grew its stake in shares of Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI raised their price target on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Bank of America raised their target price on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup initiated coverage on Weatherford International in a report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 price target for the company. Piper Sandler raised their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Barclays boosted their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $153.88.

Weatherford International Stock Performance

Shares of WFRD stock traded down $5.94 during trading hours on Thursday, hitting $111.92. The stock had a trading volume of 1,071,349 shares, compared to its average volume of 881,945. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The firm has a market capitalization of $8.19 billion, a PE ratio of 18.11, a PEG ratio of 0.79 and a beta of 0.64. The stock’s 50 day moving average is $120.00 and its 200 day moving average is $113.83. Weatherford International plc has a twelve month low of $80.52 and a twelve month high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. As a group, research analysts forecast that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, August 13th.

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.