Capital Research Global Investors Has $425.89 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

Capital Research Global Investors grew its stake in Weatherford International plc (NASDAQ:WFRD) by 295.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,945,755 shares of the company’s stock after acquiring an additional 4,443,823 shares during the period. Capital Research Global Investors owned 0.08% of Weatherford International worth $425,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after buying an additional 204 shares in the last quarter. Huntington National Bank increased its position in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. bought a new stake in Weatherford International during the 4th quarter worth about $29,000. R Squared Ltd acquired a new position in Weatherford International during the 4th quarter valued at about $36,000. Finally, Covestor Ltd grew its position in shares of Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after buying an additional 214 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of WFRD opened at $46.68 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The stock has a market capitalization of $3.40 billion, a P/E ratio of 6.95, a P/E/G ratio of 1.65 and a beta of 0.70. The company has a 50 day moving average of $54.43 and a 200-day moving average of $69.65.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share 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, equities research analysts forecast that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. Weatherford International’s dividend payout ratio is 14.88%.

Analyst Ratings Changes

WFRD has been the topic of several recent research reports. Benchmark reduced their price target on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler lowered their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Raymond James decreased their price objective on shares of Weatherford International from $97.00 to $73.00 and set a “strong-buy” rating for the company in a report on Monday, April 14th. Finally, Barclays reduced their price target on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. 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’s stock. Based on data from MarketBeat, Weatherford International has an average rating of “Moderate Buy” and a consensus price target of $103.75.

Insiders Place Their Bets

In related news, CAO Desmond J. Mills sold 19,425 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. The trade was a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Arunava Mitra sold 10,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now owns 21,072 shares of the company’s stock, valued at approximately $1,423,835.04. This represents a 32.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,930 shares of company stock valued at $5,861,718 in the last 90 days. 1.60% of the stock is currently owned by insiders.

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.