Wellington Management Group LLP Cuts Position in Weatherford International plc (NASDAQ:WFRD)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC grew its stake in shares of 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 purchasing an additional 204 shares during the period. Huntington National Bank boosted 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 in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International in the 4th quarter worth about $29,000. Covestor Ltd boosted its position in shares of 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 in the last quarter. Finally, Mattson Financial Services LLC purchased a new stake in shares of Weatherford International in the 4th quarter worth about $73,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Trading Up 3.3%

NASDAQ:WFRD traded up $1.54 on Friday, reaching $48.37. The stock had a trading volume of 732,267 shares, compared to its average volume of 1,180,362. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 1.65 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The firm's fifty day moving average is $44.91 and its two-hundred day moving average is $59.97. Weatherford International plc has a 12-month low of $36.74 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.21 billion. Equities analysts expect that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were given a $0.25 dividend. 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%.

Insider Buying and Selling

In related news, Director Neal P. Goldman bought 12,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, with a total value of $504,480.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.09% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on WFRD. Citigroup decreased their price objective on shares of 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 decreased 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 report on Thursday, April 24th. Benchmark decreased their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Raymond James lowered shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $73.00 to $69.00 in a research report 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 on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.63.

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.