Federated Hermes Inc. Takes $992,000 Position in Weatherford International plc (NASDAQ:WFRD)

Federated Hermes Inc. bought a new stake in Weatherford International plc (NASDAQ:WFRD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,723 shares of the company’s stock, valued at approximately $992,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Weatherford International in the first quarter valued at about $25,000. Cambridge Investment Research Advisors Inc. increased its holdings in Weatherford International by 8.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,198 shares of the company’s stock worth $406,000 after buying an additional 958 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Weatherford International during the second quarter worth about $25,000. King Luther Capital Management Corp increased its holdings in Weatherford International by 1.5% during the third quarter. King Luther Capital Management Corp now owns 103,464 shares of the company’s stock worth $3,341,000 after buying an additional 1,550 shares during the last quarter. Finally, Mirabella Financial Services LLP increased its holdings in Weatherford International by 19.8% during the first quarter. Mirabella Financial Services LLP now owns 10,631 shares of the company’s stock worth $354,000 after buying an additional 1,759 shares during the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WFRD. Benchmark began coverage on shares of Weatherford International in a report on Thursday, February 16th. They set a “buy” rating and a $88.00 price objective for the company. Piper Sandler raised their price objective on shares of Weatherford International from $70.00 to $93.00 in a report on Thursday, February 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Weatherford International from $54.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Finally, The Goldman Sachs Group increased their target price on shares of Weatherford International from $53.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $77.40.

Insider Activity

In related news, EVP Joseph H. Mongrain sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $66.83, for a total value of $1,002,450.00. Following the sale, the executive vice president now directly owns 33,868 shares of the company’s stock, valued at $2,263,398.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Joseph H. Mongrain sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $66.83, for a total value of $1,002,450.00. Following the sale, the executive vice president now directly owns 33,868 shares of the company’s stock, valued at $2,263,398.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott C. Weatherholt sold 39,365 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $66.30, for a total transaction of $2,609,899.50. Following the completion of the sale, the executive vice president now directly owns 158,000 shares in the company, valued at $10,475,400. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Weatherford International Price Performance

WFRD stock opened at $56.65 on Tuesday. The firm has a 50 day moving average of $59.36 and a 200-day moving average of $45.73. The company has a current ratio of 2.07, a quick ratio of 1.60 and a debt-to-equity ratio of 4.00. Weatherford International plc has a 12 month low of $16.96 and a 12 month high of $70.18. The firm has a market capitalization of $4.02 billion, a P/E ratio of 177.03 and a beta of 0.92.

Weatherford International (NASDAQ:WFRD – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.28. Weatherford International had a net margin of 0.60% and a return on equity of 12.78%. The company had revenue of $1.21 billion during the quarter. As a group, sell-side analysts predict that Weatherford International plc will post 3.99 earnings per share for the current fiscal year.

Weatherford International Company Profile

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Weatherford International plc engages in the provision of equipment and services to the oil and natural gas exploration and production industry. It operates through following segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC) and Production and Intervention (PRI). The DRE segment offers managed pressure drilling, drilling services, wire line, and drilling fluids.