Stanley Laman Group Ltd. Buys New Position in Weatherford International plc (NASDAQ:WFRD)

Stanley Laman Group Ltd. purchased a new stake in Weatherford International plc (NASDAQ:WFRD) in the 4th quarter, Holdings Channel reports. The firm purchased 38,883 shares of the company’s stock, valued at approximately $2,785,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC purchased a new stake in Weatherford International in the 3rd quarter valued at about $34,000. Millburn Ridgefield Corp purchased a new stake in Weatherford International in the 3rd quarter valued at about $42,000. R Squared Ltd purchased a new stake in shares of Weatherford International during the 4th quarter worth about $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of 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. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Up 0.5 %

NASDAQ WFRD opened at $67.63 on Thursday. The stock has a market cap of $4.91 billion, a PE ratio of 10.06, a P/E/G ratio of 1.48 and a beta of 0.60. Weatherford International plc has a fifty-two week low of $60.45 and a fifty-two week high of $135.00. The business has a 50 day moving average price of $70.67 and a two-hundred day moving average price of $85.04. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. As a group, sell-side analysts predict that Weatherford International plc will post 6.14 EPS for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s payout ratio is 14.88%.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of research reports. Evercore ISI decreased their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Raymond James decreased their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a report on Friday, February 7th. Benchmark decreased their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. Citigroup decreased their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Piper Sandler decreased their target price on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Monday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at $1,208,361.49. This represents a 52.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock valued at $6,207,725 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Weatherford International 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.