Millennium Management LLC Has $14.93 Million Position in Weatherford International plc (NASDAQ:WFRD)

Millennium Management LLC reduced its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 54.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,431 shares of the company's stock after selling 247,059 shares during the period. Millennium Management LLC owned approximately 0.29% of Weatherford International worth $14,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC boosted 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 during the last quarter. Huntington National Bank lifted its holdings in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after buying an additional 257 shares during the period. Zions Bancorporation N.A. purchased a new position in shares of Weatherford International during the fourth quarter valued at approximately $29,000. R Squared Ltd purchased a new position in Weatherford International in the 4th quarter worth approximately $36,000. Finally, Covestor Ltd raised its stake in 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 buying an additional 214 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of Weatherford International stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WFRD shares. Piper Sandler dropped their target price on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Raymond James downgraded 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. Benchmark decreased their target price on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Citigroup reduced their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays dropped their price target on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and an average price target of $96.63.

Weatherford International Stock Performance

WFRD traded down $0.11 on Wednesday, reaching $45.53. The company had a trading volume of 162,459 shares, compared to its average volume of 1,160,044. Weatherford International plc has a 1 year low of $36.74 and a 1 year high of $135.00. The stock has a market capitalization of $3.30 billion, a PE ratio of 6.79, a P/E/G ratio of 1.65 and a beta of 0.73. The stock has a 50-day moving average price of $46.21 and a 200-day moving average price of $61.97. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates 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 forecast that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.20%. Weatherford International's dividend payout ratio is currently 16.00%.

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.