Squarepoint Ops LLC Purchases 57,447 Shares of Weatherford International plc (NASDAQ:WFRD)

Squarepoint Ops LLC increased its position in shares of Weatherford International plc (NASDAQ:WFRD) by 111.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,780 shares of the company’s stock after buying an additional 57,447 shares during the period. Squarepoint Ops LLC owned 0.15% of Weatherford International worth $7,792,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. New York Life Investment Management LLC bought a new position in Weatherford International during the fourth quarter worth $546,000. Amundi raised its stake in 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 last quarter. William Blair Investment Management LLC raised its stake in Weatherford International by 9.5% during the fourth quarter. William Blair Investment Management LLC now owns 500,005 shares of the company’s stock worth $35,815,000 after buying an additional 43,182 shares during the last quarter. Raymond James Financial Inc. bought a new position in Weatherford International during the fourth quarter worth $7,215,000. Finally, American Century Companies Inc. raised its stake in Weatherford International by 29.4% during the fourth quarter. American Century Companies Inc. now owns 280,510 shares of the company’s stock worth $20,093,000 after buying an additional 63,775 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Insider Transactions at Weatherford International

In other news, Director Neal P. Goldman purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now owns 25,311 shares in the company, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFRD. Citigroup lowered their target price on shares of Weatherford International from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Barclays decreased 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. Benchmark decreased their price target on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Raymond James downgraded shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $96.63.

Weatherford International Trading Down 1.4%

NASDAQ:WFRD opened at $45.50 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The firm has a 50-day moving average of $46.50 and a 200-day moving average of $62.75. The company has a market cap of $3.30 billion, a PE ratio of 6.77, a PEG ratio of 1.65 and a beta of 0.73. Weatherford International plc has a one year low of $36.74 and a one year high of $135.00.

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

Weatherford International Announces Dividend

The firm also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International’s 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.