Sherbrooke Park Advisers LLC Lowers Holdings in Weatherford International plc (NASDAQ:WFRD)

Sherbrooke Park Advisers LLC lowered its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 69.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,469 shares of the company's stock after selling 7,830 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Weatherford International were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Huntington National Bank grew 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 purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Weatherford International in the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Weatherford International in the fourth quarter worth about $36,000. Finally, Covestor Ltd lifted its position in shares of Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after buying an additional 214 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

WFRD stock opened at $47.59 on Tuesday. The stock has a market cap of $3.45 billion, a PE ratio of 7.08, a P/E/G ratio of 1.65 and a beta of 0.73. Weatherford International plc has a 12 month low of $36.74 and a 12 month high of $135.00. The company has a 50-day moving average price of $47.10 and a 200 day moving average price of $63.47. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results 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 40.65% and a net margin of 9.18%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James cut Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Citigroup dropped their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Barclays decreased their target price on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Benchmark reduced their price objective on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.63.

Insiders Place Their Bets

In related news, Director Neal P. Goldman acquired 12,000 shares of the stock in a transaction on Thursday, April 24th. The stock was bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the transaction, the director now directly owns 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.09% of the company's stock.

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.

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