Guggenheim Capital LLC Reduces Holdings in Weatherford International plc (NASDAQ:WFRD)

Guggenheim Capital LLC lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 44.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,603 shares of the company's stock after selling 6,861 shares during the period. Guggenheim Capital LLC's holdings in Weatherford International were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its holdings in Weatherford International by 130.8% in 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 during the last quarter. Huntington National Bank increased its holdings in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in Weatherford International during the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Weatherford International in the fourth quarter valued at about $36,000. Finally, Covestor Ltd grew its position in shares of Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Up 3.8 %

NASDAQ:WFRD traded up $1.58 during trading hours on Thursday, reaching $42.98. 491,073 shares of the company were exchanged, compared to its average volume of 1,124,914. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 1.65 and a beta of 0.70. The stock has a 50 day simple moving average of $50.04 and a 200 day simple moving average of $67.09. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

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

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.33%. Weatherford International's dividend payout ratio is currently 16.00%.

Insider Transactions at Weatherford International

In related news, CAO Desmond J. Mills sold 19,425 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the sale, the chief accounting officer now directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. This represents a 52.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Arunava Mitra sold 10,000 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.57, for a total value of $675,700.00. Following the transaction, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This represents a 32.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,425 shares of company stock valued at $2,916,822 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WFRD. Barclays cut their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Piper Sandler reduced 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. Raymond James cut Weatherford International from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Finally, Benchmark decreased their price target on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Weatherford International presently has an average rating of "Moderate Buy" and an average price target of $99.75.

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.