Insider Selling: Weatherford International (NASDAQ:WFRD) EVP Sells 2,129 Shares of Stock

Weatherford International PLC (NASDAQ:WFRD) EVP Kristin Ruzicka sold 2,129 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total transaction of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares in the company, valued at approximately $1,210,739.25. This trade represents a 11.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $2.95 during trading hours on Tuesday, reaching $80.10. The company had a trading volume of 947,515 shares, compared to its average volume of 1,159,718. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 14.51 and a beta of 0.79. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average price is $70.46 and its 200-day moving average price is $61.18. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $81.01.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.03). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. Weatherford International’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. On average, analysts forecast that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, November 6th. Weatherford International’s dividend payout ratio is 18.12%.

Analyst Upgrades and Downgrades

WFRD has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Weatherford International from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. BMO Capital Markets assumed coverage on Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 target price on the stock. UBS Group started coverage on Weatherford International in a report on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price target for the company. Finally, Zacks Research raised Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new stake in Weatherford International during the 1st quarter valued at $522,000. Russell Investments Group Ltd. increased its position in Weatherford International by 23.8% during the first quarter. Russell Investments Group Ltd. now owns 51,977 shares of the company’s stock valued at $2,783,000 after acquiring an additional 9,981 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in Weatherford International during the first quarter valued at $2,356,000. Acadian Asset Management LLC bought a new stake in shares of Weatherford International in the 1st quarter worth about $3,790,000. Finally, American Century Companies Inc. boosted its stake in shares of Weatherford International by 47.7% during the 1st quarter. American Century Companies Inc. now owns 414,338 shares of the company’s stock worth $22,188,000 after purchasing an additional 133,828 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.