Clearbridge Investments LLC Purchases 227,342 Shares of Weatherford International plc (NASDAQ:WFRD)

Clearbridge Investments LLC boosted its position in shares of Weatherford International plc (NASDAQ:WFRD) by 81.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 506,292 shares of the company’s stock after buying an additional 227,342 shares during the quarter. Clearbridge Investments LLC owned approximately 0.70% of Weatherford International worth $36,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC increased 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. Zions Bancorporation N.A. bought a new position in Weatherford International during the 4th quarter valued at approximately $29,000. R Squared Ltd purchased a new stake in Weatherford International in the 4th quarter worth approximately $36,000. Millburn Ridgefield Corp bought a new stake in shares of Weatherford International in the 3rd quarter worth approximately $42,000. Finally, Blue Trust Inc. increased its stake in shares of Weatherford International by 643.0% during the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after buying an additional 1,106 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Weatherford International stock opened at $54.19 on Wednesday. The stock’s 50 day moving average is $61.30 and its 200 day moving average is $74.26. The company has a market capitalization of $3.95 billion, a P/E ratio of 8.06, a PEG ratio of 1.65 and a beta of 0.61. Weatherford International plc has a twelve month low of $51.24 and a twelve month high of $135.00. 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 (NASDAQ:WFRD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. On average, equities research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 annualized dividend and a dividend yield of 1.85%. Weatherford International’s dividend payout ratio is presently 14.88%.

Insider Activity

In other news, CFO Arunava Mitra sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the sale, the chief financial officer now owns 21,072 shares of the company’s stock, valued at $1,423,835.04. This trade represents a 32.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’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 transaction of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $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 worth $6,207,725 over the last 90 days. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup dropped their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. 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. Piper Sandler lowered their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Raymond James reduced their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a report on Friday, February 7th. Finally, Benchmark decreased their target price on 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 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

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.