91,646 Shares in Weatherford International plc (NASDAQ:WFRD) Purchased by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC acquired a new position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 91,646 shares of the company's stock, valued at approximately $6,565,000. Weatherford International makes up approximately 3.1% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 15th largest position. Corigliano Investment Advisers LLC owned about 0.13% of Weatherford International as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after purchasing an additional 204 shares during the last quarter. Huntington National Bank boosted its holdings in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. bought a new position in shares of Weatherford International during the 4th quarter worth about $29,000. R Squared Ltd bought a new position in Weatherford International during the 4th quarter valued at about $36,000. Finally, Covestor Ltd lifted its holdings in Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Weatherford International

In related news, Director Neal P. Goldman acquired 12,000 shares of Weatherford International stock in a transaction dated Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the purchase, the director now owns 25,311 shares in the company, valued at approximately $1,064,074.44. The trade was a 90.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.09% of the company's stock.

Weatherford International Trading Up 6.5%

Shares of NASDAQ WFRD traded up $3.00 during trading hours on Monday, hitting $49.07. 418,112 shares of the company traded hands, compared to its average volume of 1,153,076. The company's 50 day moving average price is $47.70 and its 200 day moving average price is $64.74. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 12 month low of $36.74 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. On average, equities research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.04%. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Weatherford International Company 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.