Weatherford International plc (NASDAQ:WFRD) Stake Reduced by Sagefield Capital LP

Sagefield Capital LP lowered its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,615 shares of the company's stock after selling 127,294 shares during the period. Weatherford International accounts for approximately 2.4% of Sagefield Capital LP's portfolio, making the stock its 11th largest position. Sagefield Capital LP owned 0.42% of Weatherford International worth $21,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Lindbrook Capital LLC increased its position in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after purchasing an additional 204 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Weatherford International by 190.4% in the fourth 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 period. Zions Bancorporation N.A. purchased a new position in shares of Weatherford International during the fourth quarter worth approximately $29,000. R Squared Ltd acquired a new position in shares of Weatherford International in the 4th quarter valued at $36,000. Finally, Covestor Ltd raised its position in Weatherford International by 30.1% in the 4th 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 Price Performance

WFRD stock traded down $1.69 during trading on Wednesday, reaching $45.46. 1,018,164 shares of the company were exchanged, compared to its average volume of 1,159,447. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. The stock's 50 day moving average price is $47.00 and its 200 day moving average price is $63.35. Weatherford International plc has a 52-week low of $36.74 and a 52-week high of $135.00. The company has a market cap of $3.30 billion, a P/E ratio of 6.76, a PEG ratio of 1.65 and a beta of 0.73.

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

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, May 6th. Weatherford International's dividend payout ratio (DPR) is 16.00%.

Insider Activity

In related news, Director Neal P. Goldman acquired 12,000 shares of Weatherford International stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the purchase, the director now directly owns 25,311 shares in the company, valued at $1,064,074.44. This trade represents a 90.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company's stock.

Wall Street Analyst Weigh In

WFRD has been the topic of several research reports. Piper Sandler lowered 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 lowered their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Raymond James downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Citigroup lowered their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays cut their price target on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.