Truist Financial Corp Trims Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Truist Financial Corp lessened its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,927 shares of the company’s stock after selling 550 shares during the quarter. Truist Financial Corp’s holdings in Weatherford International were worth $281,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WFRD. Farther Finance Advisors LLC lifted its holdings in shares of Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the last quarter. R Squared Ltd purchased a new stake in Weatherford International in the fourth quarter valued at approximately $36,000. Millburn Ridgefield Corp acquired a new position in Weatherford International during the third quarter worth $42,000. Blue Trust Inc. boosted its position 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 worth $92,000 after buying an additional 1,106 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Weatherford International in the fourth quarter valued at $157,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Up 0.8 %

Shares of Weatherford International stock opened at $54.78 on Thursday. 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 plc has a 52-week low of $52.10 and a 52-week high of $135.00. The company has a market capitalization of $3.99 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.65 and a beta of 0.60. The company has a 50 day moving average of $68.08 and a 200 day moving average of $80.51.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, research analysts forecast that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Weatherford International’s payout ratio is currently 14.88%.

Insider Transactions at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This represents a 32.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the completion of the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,692 shares of company stock valued at $6,207,725. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the topic of several research reports. Barclays decreased their target price on Weatherford International from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Citigroup dropped their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Benchmark reduced their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler decreased their price target on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.63.

Weatherford International 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.