SG Americas Securities LLC Has $766,000 Stock Position in Weatherford International PLC $WFRD

SG Americas Securities LLC reduced its holdings in Weatherford International PLC (NASDAQ:WFRD) by 36.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,783 shares of the company’s stock after selling 5,558 shares during the period. SG Americas Securities LLC’s holdings in Weatherford International were worth $766,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Royal Bank of Canada increased its position in Weatherford International by 223.0% during the first quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock worth $6,568,000 after acquiring an additional 84,684 shares during the period. Goldman Sachs Group Inc. grew its position in Weatherford International by 129.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock worth $7,695,000 after purchasing an additional 81,046 shares during the last quarter. United Services Automobile Association acquired a new stake in Weatherford International in the 1st quarter worth $258,000. Cetera Investment Advisers increased its holdings in shares of Weatherford International by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock worth $642,000 after purchasing an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 253 shares during the period. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Down 0.5%

Shares of NASDAQ:WFRD opened at $102.78 on Friday. The company’s fifty day moving average is $97.21 and its 200-day moving average is $83.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. Weatherford International PLC has a 52 week low of $39.60 and a 52 week high of $110.57. The company has a market capitalization of $7.37 billion, a PE ratio of 17.33 and a beta of 0.83.

Weatherford International (NASDAQ:WFRD) last announced 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. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company posted $1.50 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 6th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Weatherford International’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. Weatherford International’s dividend payout ratio (DPR) is 18.55%.

Insider Activity

In other news, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WFRD shares. Barclays reduced their target price on shares of Weatherford International from $114.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday. The Goldman Sachs Group upped their price target on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. UBS Group lifted their price objective on Weatherford International from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. Citigroup boosted their price objective on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Piper Sandler upped their target price on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.78.

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.