Michels Family Financial LLC Buys New Shares in Weatherford International plc (NASDAQ:WFRD)

Michels Family Financial LLC purchased a new position in Weatherford International plc (NASDAQ:WFRD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,769 shares of the company's stock, valued at approximately $485,000.

Other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC increased its stake in 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 in the last quarter. Huntington National Bank grew its holdings in shares of Weatherford International by 190.4% during 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 during the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $29,000. R Squared Ltd bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $36,000. Finally, Covestor Ltd raised its holdings in Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on WFRD. Piper Sandler reduced 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. Citigroup dropped their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Barclays reduced 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. Raymond James cut shares of 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. Finally, Benchmark reduced their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Weatherford International presently has an average rating of "Moderate Buy" and a consensus target price of $96.63.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $0.14 on Tuesday, hitting $45.64. The stock had a trading volume of 1,451,131 shares, compared to its average volume of 1,163,908. The business's 50-day simple moving average is $46.35 and its two-hundred day simple moving average is $62.09. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73.

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

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend 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%.

Insider Activity at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of Weatherford International stock in a transaction on Thursday, April 24th. The stock was acquired 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 directly owns 25,311 shares in the company, valued at $1,064,074.44. This represents a 90.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.09% of the stock is 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.