Teachers Retirement System of The State of Kentucky Has $1.76 Million Stock Position in Weatherford International PLC $WFRD

Key Points

• Teachers Retirement System of Kentucky trimmed its stake in Weatherford by 33.9% in Q4, selling 11,518 shares and leaving a 22,500‑share position worth about $1.76 million.
• Weatherford beat quarterly estimates with EPS of $1.49 vs. $1.02 expected and revenue of $1.15 billion, and announced a quarterly dividend of $0.275 per share (1.0% yield).
• CEO Girish Saligram sold 100,000 shares for roughly $10.55 million, while Wall Street ratings skew positive with a consensus "Moderate Buy" and a target around $103.22.

Teachers Retirement System of The State of Kentucky cut its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,500 shares of the company's stock after selling 11,518 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Weatherford International were worth $1,761,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Weatherford International during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock worth $28,000 after buying an additional 253 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Weatherford International by 69.8% during the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company's stock worth $29,000 after buying an additional 240 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Weatherford International during the third quarter worth $41,000. Finally, Farther Finance Advisors LLC increased its holdings in Weatherford International by 157.3% during the fourth quarter. Farther Finance Advisors LLC now owns 705 shares of the company's stock worth $55,000 after buying an additional 431 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Trading Up 0.6%

Shares of WFRD opened at $110.31 on Wednesday. The business has a 50-day moving average of $97.74 and a 200 day moving average of $86.61. Weatherford International PLC has a fifty-two week low of $40.80 and a fifty-two week high of $111.64. The firm has a market cap of $7.93 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.03 EPS. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, research analysts forecast that Weatherford International PLC will post 5.76 EPS for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 6th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 6th. Weatherford International's payout ratio is presently 17.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WFRD shares. The Goldman Sachs Group boosted their target price on shares of Weatherford International from $83.00 to $107.00 and gave the company a "neutral" rating in a research report on Wednesday, March 4th. Piper Sandler upped their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded Weatherford International from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada started coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They set an "outperform" rating and a $105.00 target price for the company. Finally, Weiss Ratings downgraded shares of Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.22.

Insiders Place Their Bets

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

About Weatherford International

Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

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