King Luther Capital Management Corp Sells 40,106 Shares of Weatherford International plc (NASDAQ:WFRD)

King Luther Capital Management Corp trimmed its position in Weatherford International plc (NASDAQ:WFRD) by 37.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,250 shares of the company’s stock after selling 40,106 shares during the period. King Luther Capital Management Corp owned 0.09% of Weatherford International worth $4,817,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WFRD. Moran Wealth Management LLC raised its position in Weatherford International by 11.8% in the fourth quarter. Moran Wealth Management LLC now owns 6,260 shares of the company’s stock valued at $448,000 after purchasing an additional 661 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Weatherford International by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,803 shares of the company’s stock valued at $1,347,000 after buying an additional 821 shares during the last quarter. Amundi boosted its position in Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company’s stock worth $2,813,000 after buying an additional 23,685 shares during the period. Lindbrook Capital LLC grew its holdings in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Weatherford International during the 4th quarter worth approximately $7,215,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Up 2.8 %

NASDAQ WFRD opened at $53.72 on Thursday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.65 and a beta of 0.61. The business has a 50 day simple moving average of $66.46 and a 200 day simple moving average of $78.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. Weatherford International plc has a one year low of $51.24 and a one year high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 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%. Research analysts expect that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is currently 14.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Citigroup cut 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. Barclays decreased their price target on Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Benchmark cut their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Raymond James decreased their target price on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Two equities research 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 company’s stock. According to data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and an average target price of $107.63.

Insider Activity

In other news, CAO Desmond J. Mills sold 19,425 shares of the business’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 completion of the sale, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. The trade was a 52.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,692 shares of company stock worth $6,207,725. Company 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.