Weatherford International plc (NASDAQ:WFRD) CFO Sells $675,700.00 in Stock

Weatherford International plc (NASDAQ:WFRD) CFO Arunava Mitra sold 10,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the transaction, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This trade represents a 32.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Weatherford International Price Performance

WFRD opened at $67.90 on Tuesday. The firm has a 50-day moving average price of $71.36 and a 200-day moving average price of $85.52. Weatherford International plc has a twelve month low of $60.45 and a twelve month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.48 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data 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%. Equities analysts expect that Weatherford International plc will post 6.14 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. Weatherford International’s payout ratio is 14.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares during the period. Farther Finance Advisors LLC boosted 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 purchasing an additional 281 shares during the period. nVerses Capital LLC purchased a new position in shares of Weatherford International during the 3rd quarter valued at $34,000. R Squared Ltd purchased a new stake in shares of Weatherford International in the fourth quarter worth $36,000. Finally, Millburn Ridgefield Corp bought a new stake in Weatherford International during the third quarter valued at $42,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

WFRD has been the subject of several analyst reports. Benchmark decreased their price objective 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. Raymond James lowered their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research note on Friday. Citigroup reduced their price target 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. Piper Sandler lowered their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

About Weatherford International

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.