Bryce Point Capital LLC Acquires Shares of 6,719 Weatherford International plc (NASDAQ:WFRD)

Bryce Point Capital LLC bought a new stake in shares of Weatherford International plc (NASDAQ:WFRD) in the 4th quarter, HoldingsChannel reports. The fund bought 6,719 shares of the company’s stock, valued at approximately $481,000.

A number of other hedge funds also recently made changes to their positions in WFRD. Virtu Financial LLC purchased a new stake in Weatherford International during the third quarter worth about $571,000. New York Life Investment Management LLC bought a new stake in shares of Weatherford International in the 4th quarter worth approximately $546,000. Amundi lifted its stake in Weatherford International by 154.7% in the fourth quarter. Amundi now owns 38,993 shares of the company’s stock valued at $2,813,000 after purchasing an additional 23,685 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Weatherford International by 9.5% during the fourth quarter. William Blair Investment Management LLC now owns 500,005 shares of the company’s stock valued at $35,815,000 after purchasing an additional 43,182 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Weatherford International in the fourth quarter worth $7,215,000. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFRD has been the subject of several research reports. Piper Sandler cut 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. Citigroup reduced their target price 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 lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Raymond James reduced their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Finally, Benchmark dropped their target price 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. Two 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. Based on data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus target price of $106.75.

Insiders Place Their Bets

In related news, CAO Desmond J. Mills sold 19,425 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the sale, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock valued at $6,207,725 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Stock Down 12.4 %

WFRD opened at $39.79 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Weatherford International plc has a one year low of $36.99 and a one year high of $135.00. The company has a fifty day moving average price of $59.85 and a 200-day moving average price of $73.55. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last announced 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 return on equity of 40.65% and a net margin of 9.18%. Equities research analysts expect that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 2.51%. Weatherford International’s payout ratio is presently 14.88%.

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.