Weatherford International PLC (NASDAQ:WFRD) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 49.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,663 shares of the company's stock after selling 86,177 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Weatherford International worth $4,748,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WFRD. Lindbrook Capital LLC raised its position in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after buying an additional 204 shares during the period. Huntington National Bank raised its position in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after buying an additional 257 shares during the period. Zions Bancorporation N.A. purchased a new position in shares of Weatherford International in the 4th quarter worth $29,000. Fifth Third Bancorp raised its position in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after buying an additional 503 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after buying an additional 231 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFRD. Raymond James Financial lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Piper Sandler cut their price objective on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Citigroup cut their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays cut their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. 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 has a consensus rating of "Moderate Buy" and an average price target of $96.63.

Insider Activity

In other news, Director Neal P. Goldman purchased 12,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Weatherford International Stock Up 2.8%

Shares of Weatherford International stock opened at $48.37 on Wednesday. The business has a 50-day moving average of $46.72 and a 200-day moving average of $57.12. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The company has a market capitalization of $3.51 billion, a PE ratio of 7.74, a P/E/G ratio of 1.33 and a beta of 0.73. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. As a group, equities analysts forecast that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Weatherford International's dividend payout ratio is presently 16.00%.

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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