Ameriprise Financial Inc. Decreases Stock Position in Weatherford International plc (NASDAQ:WFRD)

Ameriprise Financial Inc. decreased its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,626 shares of the company's stock after selling 11,332 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Weatherford International worth $7,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFRD. Barclays PLC lifted its stake in shares of Weatherford International by 59.4% during the 3rd quarter. Barclays PLC now owns 31,349 shares of the company's stock worth $2,663,000 after acquiring an additional 11,680 shares during the last quarter. Viking Fund Management LLC lifted its stake in shares of Weatherford International by 23.8% during the 4th quarter. Viking Fund Management LLC now owns 26,000 shares of the company's stock worth $1,862,000 after acquiring an additional 5,000 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of Weatherford International by 7.3% during the 4th quarter. Gradient Investments LLC now owns 15,852 shares of the company's stock worth $1,135,000 after acquiring an additional 1,078 shares during the last quarter. KBC Group NV lifted its stake in shares of Weatherford International by 56.7% during the 4th quarter. KBC Group NV now owns 3,048 shares of the company's stock worth $218,000 after acquiring an additional 1,103 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Weatherford International during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of research analyst reports. Raymond James lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $73.00 to $69.00 in a research report on Thursday, April 24th. Citigroup decreased their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Benchmark decreased their target price on Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Piper Sandler decreased their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research report 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $96.63.

Weatherford International Stock Performance

Weatherford International stock traded up $0.14 during trading hours on Tuesday, hitting $45.64. 1,451,131 shares of the stock traded hands, compared to its average volume of 1,163,908. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The firm's 50 day moving average price is $46.21 and its 200-day moving average price is $61.97. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 6.79, a P/E/G ratio of 1.65 and a beta of 0.73. Weatherford International plc has a 1 year low of $36.74 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS 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 for the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities analysts expect that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared 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 2.19%. Weatherford International's dividend payout ratio is currently 16.00%.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman purchased 12,000 shares of the stock in a transaction on 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 transaction, the director now owns 25,311 shares of the company's stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.09% of the stock is currently owned by company insiders.

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.