Weatherford International PLC (NASDAQ:WFRD) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 67.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,201,544 shares of the company's stock after acquiring an additional 482,352 shares during the period. Bank of New York Mellon Corp owned approximately 1.65% of Weatherford International worth $64,343,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WFRD. Raymond James Financial Inc. bought a new position in Weatherford International in the 4th quarter worth about $7,215,000. Amundi grew its holdings in Weatherford International by 154.7% in the 4th quarter. Amundi now owns 38,993 shares of the company's stock worth $2,813,000 after buying an additional 23,685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Weatherford International by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,803 shares of the company's stock worth $1,347,000 after buying an additional 821 shares in the last quarter. HighTower Advisors LLC increased its position in Weatherford International by 16.7% in the 4th quarter. HighTower Advisors LLC now owns 8,676 shares of the company's stock valued at $621,000 after acquiring an additional 1,243 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Weatherford International by 45.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,643 shares of the company's stock valued at $261,000 after acquiring an additional 1,137 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on WFRD. Raymond James Financial lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $73.00 to $69.00 in a report on Thursday, April 24th. Citigroup lowered their target price 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. Piper Sandler reduced 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. Finally, Barclays decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and an average target price of $96.63.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $58.15 on Friday. The company has a 50-day moving average of $49.29 and a 200-day moving average of $55.48. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.76. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted 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 8.79% and a return on equity of 35.88%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 6th. Weatherford International's dividend payout ratio is 16.00%.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman acquired 12,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the acquisition, the director owned 25,311 shares in the company, valued at approximately $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is owned by company insiders.

Weatherford International Company 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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