UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Weatherford International plc (NASDAQ:WFRD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Weatherford International plc (NASDAQ:WFRD - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 287,273 shares of the company's stock after selling 37,209 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of Weatherford International worth $20,577,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake 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 period. Huntington National Bank grew its stake in shares of Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. acquired a new position in shares of Weatherford International during the 4th quarter worth $29,000. R Squared Ltd acquired a new position in shares of Weatherford International during the 4th quarter worth $36,000. Finally, Covestor Ltd grew its stake in shares of Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after purchasing an additional 214 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Neal P. Goldman purchased 12,000 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the purchase, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Benchmark lowered their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Barclays lowered their price objective on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Raymond James cut shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Finally, Piper Sandler lowered their price objective 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.63.

Weatherford International Trading Down 3.5%

Shares of Weatherford International stock traded down $1.58 during mid-day trading on Friday, hitting $44.07. 1,399,578 shares of the stock were exchanged, compared to its average volume of 1,173,002. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a 50-day simple moving average of $45.69 and a 200 day simple moving average of $60.91. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.21 billion. Research analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. 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.