Oppenheimer Asset Management Inc. Trims Stock Position in Weatherford International PLC (NASDAQ:WFRD)

Oppenheimer Asset Management Inc. trimmed its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 55.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,160 shares of the company's stock after selling 7,674 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Weatherford International were worth $330,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WFRD. 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 worth $26,000 after purchasing an additional 204 shares during the last quarter. Huntington National Bank increased its position 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 acquiring an additional 257 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp raised its stake in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after acquiring an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Wall Street Analyst Weigh In

WFRD has been the subject of several research reports. Piper Sandler cut their target price 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. Barclays cut their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Raymond James Financial 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 report on Thursday, April 24th. Finally, Citigroup dropped 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $96.63.

Insider Activity at Weatherford International

In other Weatherford International news, Director Neal P. Goldman purchased 12,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the purchase, the director directly owned 25,311 shares in the company, valued at approximately $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.09% of the company's stock.

Weatherford International Stock Up 6.1%

WFRD traded up $3.18 on Wednesday, hitting $55.32. 1,324,124 shares of the company were exchanged, compared to its average volume of 1,178,509. The firm has a 50-day moving average price of $47.19 and a two-hundred day moving average price of $56.16. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $135.00. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. On average, equities analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Weatherford International's dividend payout ratio (DPR) is currently 16.00%.

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.