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

Sherbrooke Park Advisers LLC lowered its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 69.3% in the 4th quarter, according to its most recent 13F filing with the Securities & 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 hedge funds also recently modified their holdings 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 increased its stake in Weatherford International by 190.4% during the 4th 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 Weatherford International during the 4th quarter valued at $29,000. R Squared Ltd bought a new stake in Weatherford International during the 4th quarter valued at $36,000. Finally, Covestor Ltd increased 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 purchasing an additional 214 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost 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 approximately $1,064,074.44. This represents a 90.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFRD. Citigroup decreased 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 note on Tuesday, May 13th. Barclays decreased 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. Piper Sandler reduced their target price on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Benchmark reduced 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 note on Friday, February 7th. Finally, Raymond James lowered shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $73.00 to $69.00 in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Weatherford International presently has an average rating of "Moderate Buy" and an average price target of $96.63.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded down $0.63 during midday trading on Friday, reaching $45.50. The company had a trading volume of 748,300 shares, compared to its average volume of 1,162,754. The company's 50 day moving average price is $46.50 and its 200 day moving average price is $62.38. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.30 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.65 and a beta of 0.73. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. The company 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, sell-side analysts anticipate that Weatherford International plc will post 5.89 EPS for the current fiscal 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, May 6th. Weatherford International's dividend payout ratio (DPR) is presently 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.