Weatherford International plc (NASDAQ:WFRD) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in Weatherford International plc (NASDAQ:WFRD) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,050 shares of the company’s stock after selling 2,366 shares during the period. First Hawaiian Bank’s holdings in Weatherford International were worth $935,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WFRD. Farther Finance Advisors LLC boosted its position in shares of Weatherford International by 364.9% in the third 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. nVerses Capital LLC acquired a new stake in shares of Weatherford International in the third quarter worth approximately $34,000. Millburn Ridgefield Corp acquired a new stake in shares of Weatherford International in the third quarter worth approximately $42,000. GAMMA Investing LLC boosted its position in shares of Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 shares during the last quarter. Finally, Park Place Capital Corp boosted its position in shares of Weatherford International by 1,516.2% in the third quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after acquiring an additional 561 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Piper Sandler began coverage on shares of Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target on the stock. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Evercore ISI reduced their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup reduced their price target 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and an average target price of $121.25.

Weatherford International Trading Down 2.7 %

WFRD opened at $70.19 on Friday. The firm has a market capitalization of $5.10 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.64 and a beta of 0.64. The firm’s 50 day moving average is $78.11 and its 200-day moving average is $94.39. Weatherford International plc has a 52-week low of $66.23 and a 52-week high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Analysts expect that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insider Buying and Selling

In related news, EVP David John Reed sold 4,762 shares of Weatherford International stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

About Weatherford International

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.