US Bancorp DE Sells 7,641 Shares of Weatherford International PLC $WFRD

Key Points

• US Bancorp DE reduced its stake in Weatherford International PLC by 76.9%, selling 7,641 shares and now holding 2,299 shares valued at $123,000.
• Weatherford International recently announced a quarterly dividend of $0.25 per share, with a yield of 1.8% and a payout ratio of 15.48%.
• The company's stock is currently trading at $55.29 and has a twelve-month range between $36.74 and $111.23.

US Bancorp DE decreased its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 76.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,299 shares of the company's stock after selling 7,641 shares during the quarter. US Bancorp DE's holdings in Weatherford International were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Capital Research Global Investors boosted its position in Weatherford International by 295.9% in the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Weatherford International by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock valued at $315,375,000 after buying an additional 298,811 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Weatherford International by 181.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock valued at $93,334,000 after buying an additional 840,456 shares during the period. Capital World Investors raised its stake in shares of Weatherford International by 10.3% in the fourth quarter. Capital World Investors now owns 1,298,137 shares of the company's stock valued at $92,986,000 after buying an additional 121,153 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Weatherford International by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock valued at $64,343,000 after buying an additional 482,352 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Stock Down 2.1%

WFRD stock opened at $55.29 on Monday. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $111.23. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The firm has a market cap of $3.97 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The business has a 50 day moving average of $54.11 and a 200 day moving average of $52.72.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%. The company's revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.66 EPS. On average, research analysts forecast that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Weatherford International's dividend payout ratio (DPR) is currently 15.48%.

Wall Street Analyst Weigh In

WFRD has been the topic of a number of analyst reports. Barclays decreased their price objective on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Raymond James Financial restated an "outperform" rating and set a $70.00 target price (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Finally, Citigroup lowered their price target 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy 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 $97.63.

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.

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