Wellington Management Group LLP Lowers Stake in Weatherford International plc (NASDAQ:WFRD)

Wellington Management Group LLP reduced its stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 92.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,537 shares of the company's stock after selling 143,678 shares during the period. Wellington Management Group LLP's holdings in Weatherford International were worth $826,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WFRD. Lindbrook Capital LLC lifted its position in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after acquiring an additional 204 shares during the period. Huntington National Bank lifted its holdings in shares of Weatherford International by 190.4% during the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. purchased a new stake in Weatherford International in the fourth quarter valued at approximately $29,000. Covestor Ltd increased its holdings in Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after buying an additional 214 shares during the period. Finally, Mattson Financial Services LLC acquired a new stake in shares of Weatherford International in the fourth quarter worth $73,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFRD has been the topic of a number of recent research reports. Raymond James downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $73.00 to $69.00 in a research note on Thursday, April 24th. Citigroup lowered 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. 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. Finally, Barclays cut 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.63.

Insider Activity

In other Weatherford International news, Director Neal P. Goldman acquired 12,000 shares of the business'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 acquisition, the director now owns 25,311 shares in the company, valued at approximately $1,064,074.44. The trade was a 90.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.09% of the company's stock.

Weatherford International Price Performance

Shares of WFRD stock traded up $2.13 during trading hours on Tuesday, hitting $51.40. 1,974,296 shares of the company's stock were exchanged, compared to its average volume of 1,186,560. The firm has a 50 day moving average of $44.93 and a two-hundred day moving average of $59.32. Weatherford International plc has a fifty-two week low of $36.74 and a fifty-two week high of $135.00. The firm has a market cap of $3.73 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.65 and a beta of 0.73. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Sell-side analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.95%. Weatherford International's payout ratio is currently 16.00%.

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.