Vest Financial LLC Purchases New Holdings in Weatherford International plc (NASDAQ:WFRD)

Vest Financial LLC acquired a new stake in Weatherford International plc (NASDAQ:WFRD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,437 shares of the company's stock, valued at approximately $1,309,000.

Several other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC raised its holdings in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after acquiring an additional 204 shares during the last quarter. Huntington National Bank boosted its position in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after buying an additional 257 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in Weatherford International in the 4th quarter valued at about $29,000. Covestor Ltd boosted its position in Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after buying an additional 214 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in shares of Weatherford International during the fourth quarter worth about $73,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman acquired 12,000 shares of the company's stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the purchase, the director now directly owns 25,311 shares of the company's stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.09% of the company's stock.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $48.37 on Friday. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 1.65 and a beta of 0.73. The firm's 50-day moving average is $44.91 and its 200-day moving average is $59.81. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share 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 firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations 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 was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.07%. Weatherford International's dividend payout ratio is currently 16.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler dropped 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. Barclays reduced their target price on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Citigroup reduced their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Raymond James cut shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.63.

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.

Want to see what other hedge funds are holding WFRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weatherford International plc (NASDAQ:WFRD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.