Jacobs Levy Equity Management Inc. Sells 5,400 Shares of Weatherford International plc (NASDAQ:WFRD)

Jacobs Levy Equity Management Inc. lessened its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,795 shares of the company's stock after selling 5,400 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Weatherford International worth $3,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Lindbrook Capital LLC lifted its stake 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 in the last quarter. Huntington National Bank increased its holdings in shares of Weatherford International by 190.4% in 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 during the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Weatherford International in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new position in Weatherford International during the 4th quarter worth approximately $36,000. Finally, Covestor Ltd grew its stake in Weatherford International by 30.1% during 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 last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Insider Activity at Weatherford International

In related news, Director Neal P. Goldman bought 12,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now directly owns 25,311 shares in the company, valued at approximately $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.09% of the stock is owned by company insiders.

Weatherford International Price Performance

NASDAQ WFRD traded down $1.24 on Monday, reaching $47.24. 359,885 shares of the stock traded hands, compared to its average volume of 1,160,908. The firm's fifty day simple moving average is $47.22 and its 200 day simple moving average is $63.68. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 1.65 and a beta of 0.73. 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 announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, research analysts predict that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. Weatherford International's dividend payout ratio is 16.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFRD. Raymond James downgraded shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Benchmark reduced their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 7th. Piper Sandler reduced their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Barclays reduced their price target on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, Citigroup reduced their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Weatherford International presently has an average rating of "Moderate Buy" and an average target price of $96.63.

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.