Voloridge Investment Management LLC Buys 336,504 Shares of Weatherford International plc (NASDAQ:WFRD)

Voloridge Investment Management LLC increased its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 135.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 585,398 shares of the company's stock after purchasing an additional 336,504 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.80% of Weatherford International worth $41,932,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. iSAM Funds UK Ltd bought a new stake in Weatherford International during the 4th quarter worth about $436,000. Vident Advisory LLC acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $1,085,000. Westwood Holdings Group Inc. increased its position in shares of Weatherford International by 17.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 161,065 shares of the company's stock valued at $11,537,000 after acquiring an additional 23,886 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Weatherford International by 111.9% during the fourth quarter. Squarepoint Ops LLC now owns 108,780 shares of the company's stock worth $7,792,000 after acquiring an additional 57,447 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Weatherford International by 82.4% during the fourth quarter. Tidal Investments LLC now owns 13,087 shares of the company's stock valued at $937,000 after purchasing an additional 5,914 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Performance

WFRD stock traded down $0.63 during midday trading on Monday, reaching $45.50. 748,300 shares of the company were exchanged, compared to its average volume of 1,162,754. Weatherford International plc has a one year low of $36.74 and a one year high of $135.00. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The business has a 50-day moving average price of $46.50 and a two-hundred day moving average price of $62.38. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.21 billion. Equities research analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.20%. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Insider Transactions at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the purchase, the director now owns 25,311 shares in the company, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on WFRD shares. Benchmark lowered their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Barclays lowered their target price on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Piper Sandler cut their price target 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. Raymond James lowered 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 note on Thursday, April 24th. Finally, Citigroup cut their target price 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.