Crestline Management LP Takes Position in Weatherford International plc (NASDAQ:WFRD)

Crestline Management LP purchased a new stake in shares of Weatherford International plc (NASDAQ:WFRD) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,198 shares of the company’s stock, valued at approximately $802,000.

A number of other large investors have also recently added to or reduced their stakes in WFRD. New York Life Investment Management LLC purchased a new stake in Weatherford International in the fourth quarter valued at $546,000. Amundi boosted its position in shares of Weatherford International by 154.7% during the fourth quarter. Amundi now owns 38,993 shares of the company’s stock worth $2,813,000 after buying an additional 23,685 shares during the period. William Blair Investment Management LLC grew its stake in shares of Weatherford International by 9.5% in the fourth quarter. William Blair Investment Management LLC now owns 500,005 shares of the company’s stock valued at $35,815,000 after buying an additional 43,182 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Weatherford International in the 4th quarter valued at $7,215,000. Finally, American Century Companies Inc. lifted its stake in Weatherford International by 29.4% during the 4th quarter. American Century Companies Inc. now owns 280,510 shares of the company’s stock worth $20,093,000 after acquiring an additional 63,775 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WFRD shares. 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. Raymond James cut shares of 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 report on Thursday, April 24th. 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. Finally, 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Insider Activity at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the transaction, the director now owns 25,311 shares of the company’s stock, valued at approximately $1,064,074.44. This trade represents a 90.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Weatherford International Price Performance

Weatherford International stock opened at $46.07 on Friday. The stock has a market cap of $3.34 billion, a P/E ratio of 6.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a fifty day simple moving average of $47.70 and a 200-day simple moving average of $64.94. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International plc has a 12-month low of $36.74 and a 12-month high of $135.00.

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

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be given 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 2.17%. Weatherford International’s dividend payout ratio is presently 16.00%.

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.