Weatherford International plc (NASDAQ:WFRD) Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,402,833 shares of the company's stock after purchasing an additional 298,811 shares during the period. T. Rowe Price Investment Management Inc. owned 6.06% of Weatherford International worth $315,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lindbrook Capital LLC boosted its holdings in 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 during the last quarter. Huntington National Bank boosted its holdings in 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 last quarter. Zions Bancorporation N.A. purchased a new position in Weatherford International in the fourth quarter valued at about $29,000. R Squared Ltd purchased a new position in Weatherford International in the fourth quarter valued at about $36,000. Finally, Covestor Ltd boosted its stake in 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 acquiring an additional 214 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now owns 17,899 shares in the company, valued at approximately $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,930 shares of company stock worth $5,861,718 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Weatherford International Stock Up 5.3 %

Shares of NASDAQ:WFRD traded up $2.25 during trading hours on Tuesday, hitting $44.37. The company's stock had a trading volume of 767,816 shares, compared to its average volume of 1,115,246. 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. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 6.58, a P/E/G ratio of 1.65 and a beta of 0.70. The firm's fifty day moving average price is $51.06 and its 200 day moving average price is $67.43.

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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. As a group, research analysts expect 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 will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be paid 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 2.25%. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Analyst Upgrades and Downgrades

WFRD has been the subject of several recent research reports. Barclays reduced their price target on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday. Benchmark dropped their price objective on Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Piper Sandler dropped their price objective on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Two 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.com, Weatherford International currently has an average rating of "Moderate Buy" and a consensus 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.