Cynosure Group LLC Buys 1,946 Shares of Weatherford International plc (NASDAQ:WFRD)

Cynosure Group LLC grew its stake in Weatherford International plc (NASDAQ:WFRD) by 16.9% during the fourth quarter, Holdings Channel reports. The firm owned 13,483 shares of the company’s stock after purchasing an additional 1,946 shares during the period. Cynosure Group LLC’s holdings in Weatherford International were worth $966,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Lindbrook Capital LLC boosted its holdings 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 last quarter. Huntington National Bank raised its stake in shares of Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after purchasing an additional 257 shares during the period. Zions Bancorporation N.A. purchased a new stake in Weatherford International during the 4th quarter worth about $29,000. R Squared Ltd bought a new position in Weatherford International in the 4th quarter worth about $36,000. Finally, Millburn Ridgefield Corp bought a new position in Weatherford International in the 3rd quarter worth about $42,000. Institutional investors own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In other news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now owns 17,899 shares of the company’s stock, valued at $1,208,361.49. The trade was a 52.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the firm’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 completion of the sale, the executive vice president now owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock worth $6,207,725 in the last quarter. 1.60% of the stock is owned by company insiders.

Weatherford International Trading Up 1.2 %

Shares of NASDAQ WFRD opened at $54.19 on Wednesday. The stock 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. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The business’s 50 day moving average is $61.30 and its two-hundred day moving average is $74.26. Weatherford International plc has a 1-year low of $51.24 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its earnings results 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 expect that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Friday, February 21st. Weatherford International’s dividend payout ratio is currently 14.88%.

Wall Street Analysts Forecast Growth

WFRD has been the topic of several recent analyst reports. Benchmark lowered their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Raymond James lowered 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. Citigroup lowered their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Piper Sandler reduced their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.