Weatherford International plc (NASDAQ:WFRD) Shares Sold by First Hawaiian Bank

First Hawaiian Bank decreased its stake in Weatherford International plc (NASDAQ:WFRD) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,050 shares of the company’s stock after selling 2,366 shares during the period. First Hawaiian Bank’s holdings in Weatherford International were worth $935,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after purchasing an additional 281 shares during the period. nVerses Capital LLC acquired a new stake in Weatherford International during the 3rd quarter worth $34,000. Millburn Ridgefield Corp acquired a new stake in Weatherford International during the 3rd quarter worth $42,000. GAMMA Investing LLC boosted its stake in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after purchasing an additional 141 shares during the period. Finally, Park Place Capital Corp boosted its stake in Weatherford International by 1,516.2% during the 3rd quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after purchasing an additional 561 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD opened at $70.19 on Friday. The company has a 50-day simple moving average of $78.11 and a 200-day simple moving average of $94.39. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.10 billion, a PE ratio of 9.86, a P/E/G ratio of 0.64 and a beta of 0.64. Weatherford International plc has a 52-week low of $66.23 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 EPS. Equities research analysts predict that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. Weatherford International’s dividend payout ratio is presently 14.04%.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WFRD shares. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Piper Sandler started coverage on shares of Weatherford International in a research note on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target for the company. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Citigroup cut their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

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.