Jacobs Levy Equity Management Inc. Sells 5,400 Shares of Weatherford International plc (NASDAQ:WFRD)

Jacobs Levy Equity Management Inc. trimmed its stake in Weatherford International plc (NASDAQ:WFRD) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,795 shares of the company’s stock after selling 5,400 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Weatherford International worth $3,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFRD. Barclays PLC raised its holdings in shares of Weatherford International by 59.4% in the third quarter. Barclays PLC now owns 31,349 shares of the company’s stock worth $2,663,000 after buying an additional 11,680 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Weatherford International in the fourth quarter worth approximately $157,000. Viking Fund Management LLC raised its holdings in shares of Weatherford International by 23.8% in the fourth quarter. Viking Fund Management LLC now owns 26,000 shares of the company’s stock worth $1,862,000 after buying an additional 5,000 shares during the period. Gradient Investments LLC raised its holdings in shares of Weatherford International by 7.3% in the fourth quarter. Gradient Investments LLC now owns 15,852 shares of the company’s stock worth $1,135,000 after buying an additional 1,078 shares during the period. Finally, KBC Group NV raised its holdings in shares of Weatherford International by 56.7% in the fourth quarter. KBC Group NV now owns 3,048 shares of the company’s stock worth $218,000 after buying an additional 1,103 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Trading Up 0.9%

WFRD opened at $49.99 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.63 billion, a P/E ratio of 7.44, a PEG ratio of 1.65 and a beta of 0.73. The stock’s fifty day moving average is $47.37 and its two-hundred day moving average is $64.31. Weatherford International plc has a 52 week low of $36.74 and a 52 week high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 40.65% and a net margin of 9.18%. Analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be given 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 yield of 2.00%. Weatherford International’s dividend payout ratio (DPR) is presently 16.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WFRD. Piper Sandler reduced 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, April 24th. Benchmark reduced their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Citigroup reduced their price objective on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays reduced their price objective on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Raymond James downgraded Weatherford International from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $96.63.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman bought 12,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 25,311 shares of the company’s stock, valued at $1,064,074.44. The trade was a 90.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

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.