Alden Global Capital LLC Grows Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Alden Global Capital LLC increased its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 113.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,268 shares of the company's stock after purchasing an additional 11,855 shares during the period. Weatherford International makes up about 1.6% of Alden Global Capital LLC's holdings, making the stock its 18th biggest holding. Alden Global Capital LLC's holdings in Weatherford International were worth $1,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of Weatherford International by 295.9% in the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after buying an additional 4,443,823 shares during the period. Invesco Ltd. purchased a new position in Weatherford International in the 4th quarter worth approximately $104,287,000. Norges Bank bought a new stake in Weatherford International in the fourth quarter valued at approximately $65,678,000. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Weatherford International by 181.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock worth $93,334,000 after purchasing an additional 840,456 shares during the last quarter. Finally, Victory Capital Management Inc. raised 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 valued at $52,166,000 after buying an additional 414,528 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

Weatherford International Stock Performance

Shares of WFRD stock traded down $0.72 during trading hours on Wednesday, reaching $43.01. 523,769 shares of the company traded hands, compared to its average volume of 1,140,500. The firm has a 50-day moving average price of $48.47 and a 200 day moving average price of $65.62. The company has a market cap of $3.12 billion, a P/E ratio of 6.46, a P/E/G ratio of 1.65 and a beta of 0.73. Weatherford International plc has a 12-month low of $36.74 and a 12-month high of $135.00. 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 (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, sell-side analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Weatherford International's dividend payout ratio is presently 16.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark dropped their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Barclays reduced their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Piper Sandler decreased their price objective on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Raymond James downgraded shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and an average target price of $99.75.

Insiders Place Their Bets

In other news, Director Neal P. Goldman bought 12,000 shares of Weatherford International stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the purchase, the director now owns 25,311 shares in the company, valued at $1,064,074.44. The trade was a 90.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. This trade represents a 52.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,425 shares of company stock worth $2,916,822 in the last three months. 1.60% of the stock is owned by company insiders.

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.