Picton Mahoney Asset Management Trims Holdings in Weatherford International plc (NASDAQ:WFRD)

Picton Mahoney Asset Management cut its holdings in Weatherford International plc (NASDAQ:WFRD) by 28.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,640 shares of the company’s stock after selling 14,301 shares during the quarter. Picton Mahoney Asset Management’s holdings in Weatherford International were worth $2,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC grew its position in shares of Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after buying an additional 204 shares during the period. Farther Finance Advisors LLC grew its position 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 buying an additional 281 shares during the period. R Squared Ltd purchased a new stake in shares of Weatherford International in the 4th quarter worth about $36,000. Millburn Ridgefield Corp purchased a new stake in shares of Weatherford International in the 3rd quarter worth about $42,000. Finally, Blue Trust Inc. grew its position in shares of Weatherford International by 643.0% in the 4th 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. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 19,425 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the sale, the chief accounting officer now owns 17,899 shares in the company, valued at approximately $1,208,361.49. The trade was a 52.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock worth $6,207,725 in the last quarter. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup cut their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Piper Sandler cut their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Raymond James cut their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Benchmark cut their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $53.11 on Friday. The firm’s 50-day moving average price is $65.66 and its 200-day moving average price is $77.92. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.87 billion, a PE ratio of 7.90, a PEG ratio of 1.65 and a beta of 0.61. Weatherford International plc has a 52-week low of $51.24 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data 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 return on equity of 40.65% and a net margin of 9.18%. As a group, analysts anticipate 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 will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

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.