Deutsche Bank AG Raises Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Deutsche Bank AG lifted its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 2,351.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,576 shares of the company's stock after purchasing an additional 125,249 shares during the quarter. Deutsche Bank AG owned 0.18% of Weatherford International worth $9,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors raised its stake in shares of Weatherford International by 295.9% during the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares in the last quarter. Invesco Ltd. bought a new position in Weatherford International in the 4th quarter worth approximately $104,287,000. Norges Bank bought a new position in Weatherford International in the 4th quarter worth approximately $65,678,000. Fuller & Thaler Asset Management Inc. increased its position in Weatherford International by 181.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock worth $93,334,000 after buying an additional 840,456 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Weatherford International by 132.1% in the fourth quarter. Victory Capital Management Inc. now owns 728,266 shares of the company's stock worth $52,166,000 after purchasing an additional 414,528 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Neal P. Goldman bought 12,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now directly owns 25,311 shares of the company's stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.09% of the company's stock.

Weatherford International Price Performance

WFRD traded down $0.44 on Tuesday, reaching $47.15. The stock had a trading volume of 579,534 shares, compared to its average volume of 1,159,582. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The firm has a 50-day moving average of $47.10 and a 200-day moving average of $63.47. 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 fifty-two week low of $36.74 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, sell-side analysts anticipate that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.12%. Weatherford International's payout ratio is currently 16.00%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Benchmark lowered their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Citigroup cut their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler cut their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Raymond James lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Finally, Barclays decreased their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.63.

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.