Weatherford International plc (NASDAQ:WFRD) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,650 shares of the company's stock after selling 217,983 shares during the quarter. Bank of America Corp DE owned about 0.57% of Weatherford International worth $29,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. Lindbrook Capital LLC grew its stake in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after buying an additional 204 shares in the last quarter. Huntington National Bank grew its stake in shares of Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after buying an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Weatherford International in the fourth quarter valued at $29,000. R Squared Ltd acquired a new stake in shares of Weatherford International in the fourth quarter valued at $36,000. Finally, Covestor Ltd boosted its holdings in Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

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 stock was acquired at an average cost of $42.04 per share, with a total value of $504,480.00. Following the acquisition, the director now owns 25,311 shares of the company's stock, valued at approximately $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 is accessible through this link. 2.09% of the stock is owned by company insiders.

Weatherford International Stock Down 1.4%

NASDAQ WFRD traded down $0.63 during trading on Friday, reaching $45.50. 748,300 shares of the company's stock were exchanged, compared to its average volume of 1,160,221. The stock has a market cap of $3.30 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. The company has a 50 day moving average price of $46.50 and a two-hundred day moving average price of $62.75. 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 announced its quarterly earnings results 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. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. On average, equities research analysts anticipate that Weatherford International plc will post 5.89 EPS 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. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International's dividend payout ratio (DPR) is 16.00%.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of recent research reports. Benchmark decreased their target price on Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 7th. 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 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 report on Tuesday, May 13th. Barclays decreased their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, 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 report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $96.63.

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.