Ethic Inc. Grows Stake in Weatherford International plc (NASDAQ:WFRD)

Ethic Inc. boosted its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 112.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,618 shares of the company's stock after buying an additional 5,615 shares during the quarter. Ethic Inc.'s holdings in Weatherford International were worth $761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. grew its stake in shares of Weatherford International by 1.0% during the 4th quarter. Xponance Inc. now owns 17,072 shares of the company's stock worth $1,223,000 after acquiring an additional 167 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Weatherford International by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after acquiring an additional 200 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Weatherford International by 130.8% during the 4th 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. Covestor Ltd increased its position in shares of 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. Finally, Huntington National Bank increased its position in shares of Weatherford International by 190.4% during 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 last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

Weatherford International stock traded down $1.08 during midday trading on Monday, reaching $47.40. 338,190 shares of the stock traded hands, compared to its average volume of 1,486,686. The stock's fifty day moving average is $47.22 and its 200-day moving average is $63.68. Weatherford International plc has a 12 month low of $36.74 and a 12 month high of $135.00. The stock has a market cap of $3.44 billion, a P/E ratio of 7.05, a PEG ratio of 1.65 and a beta of 0.73. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, equities research analysts anticipate that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Neal P. Goldman purchased 12,000 shares of Weatherford International stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now owns 25,311 shares in the company, valued at $1,064,074.44. This represents a 90.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WFRD. Piper Sandler reduced their price objective on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Raymond James cut Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Benchmark lowered their price objective 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. Citigroup lowered their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Barclays cut their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.63.

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.