BNP Paribas Financial Markets Acquires New Stake in Weatherford International plc (NASDAQ:WFRD)

BNP Paribas Financial Markets bought a new position in Weatherford International plc (NASDAQ:WFRD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 42,278 shares of the company’s stock, valued at approximately $3,028,000. BNP Paribas Financial Markets owned approximately 0.06% of Weatherford International as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. Xponance Inc. increased its holdings in Weatherford International by 1.0% in the 4th quarter. Xponance Inc. now owns 17,072 shares of the company’s stock valued at $1,223,000 after acquiring an additional 167 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Weatherford International by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company’s stock valued at $2,273,000 after acquiring an additional 200 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Weatherford International by 130.8% in the 4th 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 last quarter. Covestor Ltd increased its holdings in Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $66,000 after acquiring an additional 214 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after acquiring an additional 257 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Neal P. Goldman purchased 12,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was purchased at an average price of $42.04 per share, with a total value of $504,480.00. Following the transaction, the director now owns 25,311 shares of the company’s stock, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WFRD has been the topic of a number of research reports. Barclays reduced their target price on shares of Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. 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. Citigroup reduced their target price on shares of Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler reduced their target price on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Raymond James downgraded shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.63.

Weatherford International Price Performance

WFRD stock opened at $48.48 on Friday. Weatherford International plc has a 12 month low of $36.74 and a 12 month high of $135.00. 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 company has a 50-day moving average price of $47.30 and a 200 day moving average price of $64.10. The stock has a market cap of $3.52 billion, a PE ratio of 7.21, a P/E/G ratio of 1.65 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. 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 year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.06%. Weatherford International’s dividend payout ratio (DPR) is 16.00%.

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.