Retirement Systems of Alabama Sells 86,177 Shares of Weatherford International PLC (NASDAQ:WFRD)

Retirement Systems of Alabama trimmed its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 49.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,663 shares of the company's stock after selling 86,177 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Weatherford International worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its holdings in Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company's stock valued at $1,223,000 after purchasing an additional 167 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Weatherford International by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after purchasing an additional 200 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. Covestor Ltd boosted its holdings in Weatherford International by 30.1% during the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares in the last quarter. Finally, Gradient Investments LLC boosted its holdings in Weatherford International by 1.4% during the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after purchasing an additional 228 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WFRD shares. Piper Sandler reduced their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Barclays reduced their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Raymond James Financial downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Finally, Citigroup reduced their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.63.

Insider Buying and Selling

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the company's stock in a transaction on Thursday, April 24th. The stock was bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the transaction, the director now owns 25,311 shares of the company's stock, valued at approximately $1,064,074.44. The trade was a 90.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.09% of the stock is currently owned by corporate insiders.

Weatherford International Trading Down 0.0%

WFRD stock traded down $0.02 during trading on Friday, hitting $50.08. The company had a trading volume of 3,189,711 shares, compared to its average volume of 1,175,193. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $46.92 and a 200-day moving average price of $56.52. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $135.00. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 1.42 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted 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 8.79% and a return on equity of 35.88%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Tuesday, May 6th. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

About Weatherford International

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.