Weatherford International plc (NASDAQ:WFRD) Shares Purchased by Atlantic Investment Management Inc.

Atlantic Investment Management Inc. boosted its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 438,109 shares of the company’s stock after buying an additional 157,000 shares during the period. Weatherford International accounts for 15.2% of Atlantic Investment Management Inc.’s investment portfolio, making the stock its 3rd largest position. Atlantic Investment Management Inc. owned 0.60% of Weatherford International worth $31,382,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its stake in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares during the period. Huntington National Bank raised its position in 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 purchasing an additional 257 shares during the period. Zions Bancorporation N.A. acquired a new position in Weatherford International during the fourth quarter worth $29,000. R Squared Ltd purchased a new position in shares of Weatherford International during the fourth quarter worth $36,000. Finally, Covestor Ltd raised its holdings in shares of 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 buying an additional 214 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark dropped their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Piper Sandler reduced their target price on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Barclays dropped their price target on shares of Weatherford International from $85.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, Raymond James cut 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. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

Weatherford International Trading Up 5.0 %

WFRD opened at $44.73 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 52 week low of $36.74 and a 52 week high of $135.00. The business’s 50 day moving average is $49.21 and its two-hundred day moving average is $66.42. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. On average, research analysts predict that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. Weatherford International’s dividend payout ratio (DPR) is 16.00%.

Insider Buying and Selling

In related news, Director Neal P. Goldman bought 12,000 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the acquisition, the director now owns 25,311 shares in the company, valued at approximately $1,064,074.44. This trade represents a 90.15 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the sale, the chief accounting officer now owns 17,899 shares of the company’s stock, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,425 shares of company stock valued at $2,916,822 over the last quarter. 1.60% of the stock is currently owned by insiders.

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.