Capital Research Global Investors Has $425.89 Million Holdings in Weatherford International plc (NASDAQ:WFRD)

Capital Research Global Investors raised its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 295.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,945,755 shares of the company's stock after purchasing an additional 4,443,823 shares during the period. Capital Research Global Investors owned about 8.18% of Weatherford International worth $425,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of WFRD. Lindbrook Capital LLC raised its stake 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 acquiring an additional 204 shares during the period. Huntington National Bank boosted its position 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 purchasing an additional 257 shares during the period. Zions Bancorporation N.A. bought a new position in Weatherford International during the 4th quarter worth $29,000. R Squared Ltd acquired a new stake in Weatherford International in the fourth quarter worth $36,000. Finally, Covestor Ltd lifted 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 buying an additional 214 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Price Performance

WFRD stock traded up $1.02 on Friday, hitting $42.46. 1,241,338 shares of the company's stock traded hands, compared to its average volume of 1,108,568. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 6.39, a P/E/G ratio of 1.65 and a beta of 0.70. Weatherford International plc has a 1-year low of $36.74 and a 1-year high of $135.00. The stock has a fifty day moving average of $52.23 and a 200-day moving average of $68.48.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.21 billion. On average, analysts forecast that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. Weatherford International's dividend payout ratio (DPR) is presently 14.88%.

Insider Activity at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of Weatherford International stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.57, for a total transaction 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. The trade was a 32.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WFRD has been the topic of several recent research reports. Benchmark cut 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. Piper Sandler cut their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday. Raymond James lowered 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 report on Thursday. Finally, Barclays cut their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Weatherford International has a consensus 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.