Amundi increased its stake in shares of Weatherford International PLC (NASDAQ:WFRD – Free Report) by 89.8% during the first quarter, HoldingsChannel.com reports. The firm owned 18,869 shares of the company’s stock after buying an additional 8,925 shares during the period. Amundi’s holdings in Weatherford International were worth $1,785,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in Weatherford International by 1,040.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after purchasing an additional 1,135,338 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of Weatherford International by 77.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock worth $42,092,000 after purchasing an additional 234,989 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Weatherford International by 34.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,747 shares of the company’s stock worth $5,615,000 after purchasing an additional 18,224 shares during the period. GeoSphere Capital Management LLC raised its position in shares of Weatherford International by 70.0% in the fourth quarter. GeoSphere Capital Management LLC now owns 42,500 shares of the company’s stock worth $3,326,000 after buying an additional 17,500 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in shares of Weatherford International in the fourth quarter worth $1,389,000. Institutional investors own 97.23% of the company’s stock.
Weatherford International Price Performance
Shares of Weatherford International stock opened at $86.82 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34. Weatherford International PLC has a 52-week low of $52.70 and a 52-week high of $113.15. The company has a fifty day moving average of $88.92 and a 200-day moving average of $95.80. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87.
Weatherford International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be issued a $0.275 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Weatherford International’s payout ratio is currently 21.70%.
Insider Activity
In other news, Director Benjamin Duster sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the sale, the director owned 11,187 shares of the company’s stock, valued at approximately $963,088.83. The trade was a 34.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Neal P. Goldman sold 16,000 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $84.84, for a total value of $1,357,440.00. Following the sale, the director owned 12,187 shares of the company’s stock, valued at $1,033,945.08. This represents a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.07% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts recently commented on WFRD shares. Barclays reduced their target price on Weatherford International from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Citigroup dropped their price target on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Raymond James Financial cut their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Piper Sandler upped their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and a consensus target price of $113.56.
View Our Latest Stock Report on WFRD
About Weatherford International
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.
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