Insight Wealth Strategies LLC Has $4.83 Million Stake in Weatherford International PLC $WFRD

Insight Wealth Strategies LLC reduced its holdings in Weatherford International PLC (NASDAQ:WFRD) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,690 shares of the company’s stock after selling 11,124 shares during the period. Insight Wealth Strategies LLC owned 0.09% of Weatherford International worth $4,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its stake in shares of Weatherford International by 1.8% during the 3rd quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after buying an additional 98,663 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Weatherford International by 712.8% in the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after acquiring an additional 1,443,512 shares in the last quarter. First Trust Advisors LP increased its position in shares of Weatherford International by 43.5% in the third quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock valued at $107,601,000 after acquiring an additional 476,575 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Weatherford International by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,301,573 shares of the company’s stock worth $89,068,000 after acquiring an additional 57,008 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Weatherford International by 103.1% during the third quarter. American Century Companies Inc. now owns 1,165,753 shares of the company’s stock worth $79,772,000 after acquiring an additional 591,694 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on WFRD shares. Citigroup increased their price target on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Piper Sandler upped their price objective on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays dropped their price objective on Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Wall Street Zen cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank Of Canada assumed coverage on shares of Weatherford International in a report on Wednesday. They set an “outperform” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Weatherford International has an average rating of “Moderate Buy” and a consensus price target of $98.33.

Weatherford International Price Performance

NASDAQ:WFRD opened at $86.48 on Thursday. Weatherford International PLC has a one year low of $36.74 and a one year high of $110.57. The company has a market cap of $6.20 billion, a P/E ratio of 14.58 and a beta of 0.78. The firm’s fifty day moving average price is $94.92 and its two-hundred day moving average price is $79.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. Weatherford International’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 EPS. Equities analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 6th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.10 annualized dividend and a yield of 1.3%. This is an increase from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s payout ratio is currently 18.55%.

Insider Transactions at Weatherford International

In other news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.09% of the stock is owned by company insiders.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.