Weatherford International PLC $WFRD Holdings Lowered by Holocene Advisors LP

Holocene Advisors LP reduced its stake in Weatherford International PLC (NASDAQ:WFRD) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,609,096 shares of the company’s stock after selling 36,938 shares during the period. Holocene Advisors LP’s holdings in Weatherford International were worth $110,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFRD. Capital Research Global Investors increased its stake in shares of Weatherford International by 1.8% during the third quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock valued at $388,245,000 after acquiring an additional 98,663 shares during the period. First Trust Advisors LP lifted its position in Weatherford International by 43.5% in the third quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock worth $107,601,000 after purchasing an additional 476,575 shares during the period. Dimensional Fund Advisors LP lifted its position in Weatherford International by 4.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,301,573 shares of the company’s stock worth $89,068,000 after purchasing an additional 57,008 shares during the period. American Century Companies Inc. boosted its stake in Weatherford International by 103.1% during the 3rd quarter. American Century Companies Inc. now owns 1,165,753 shares of the company’s stock valued at $79,772,000 after purchasing an additional 591,694 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Weatherford International by 1,005.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,056,407 shares of the company’s stock valued at $53,148,000 after purchasing an additional 960,832 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. The Goldman Sachs Group raised their target price on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Citigroup lifted their target price on Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Wall Street Zen cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Piper Sandler upped their price target on shares of Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $86.53 on Monday. The company has a market capitalization of $6.21 billion, a PE ratio of 14.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. The stock has a fifty day moving average of $95.02 and a 200-day moving average of $79.26. Weatherford International PLC has a one year low of $36.74 and a one year high of $110.57.

Weatherford International (NASDAQ:WFRD) last issued 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. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 EPS. As a group, equities analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were given a $0.275 dividend. This is a positive change from Weatherford International’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Weatherford International’s dividend payout ratio is 18.55%.

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.