Weatherford International plc (NASDAQ:WFRD) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lowered its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 32.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,077 shares of the company’s stock after selling 32,789 shares during the quarter. Congress Wealth Management LLC DE owned about 0.09% of Weatherford International worth $4,805,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Xponance Inc. increased its position in Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company’s stock worth $1,223,000 after purchasing an additional 167 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after buying an additional 204 shares during the period. Hancock Whitney Corp increased its holdings in shares of Weatherford International by 1.9% during the 3rd quarter. Hancock Whitney Corp now owns 14,994 shares of the company’s stock worth $1,273,000 after buying an additional 284 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Weatherford International in the 3rd quarter worth $42,000. Finally, R Squared Ltd acquired a new position in Weatherford International in the fourth quarter valued at $36,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Weatherford International

In other news, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 125,019 shares in the company, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of the stock in a transaction dated Friday, February 7th. The stock was 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 $1,208,361.49. The trade was a 52.04 % decrease in their position. 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 Price Performance

Shares of WFRD stock opened at $54.82 on Wednesday. Weatherford International plc has a twelve month low of $51.24 and a twelve month high of $135.00. The company has a market capitalization of $3.99 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $63.12 and a 200-day simple moving average of $75.52.

Weatherford International (NASDAQ:WFRD) last posted 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 research analysts anticipate that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.82%. Weatherford International’s dividend payout ratio is presently 14.88%.

Analyst Ratings Changes

WFRD has been the topic of a number of research reports. Barclays cut their price objective on Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Piper Sandler reduced their price target 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, February 10th. Citigroup decreased their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Finally, 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 report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

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.