Amalgamated Bank Acquires 35,046 Shares of Weatherford International plc (NASDAQ:WFRD)

Amalgamated Bank lifted its holdings in shares of Weatherford International plc (NASDAQ:WFRDFree Report) by 323.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 45,870 shares of the company’s stock after acquiring an additional 35,046 shares during the period. Amalgamated Bank’s holdings in Weatherford International were worth $4,143,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its position in Weatherford International by 557.1% in the second quarter. Covestor Ltd now owns 368 shares of the company’s stock valued at $25,000 after buying an additional 312 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Weatherford International in the first quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in Weatherford International in the second quarter valued at approximately $25,000. Quarry LP purchased a new stake in Weatherford International in the first quarter valued at approximately $28,000. Finally, Point72 Asset Management L.P. acquired a new position in Weatherford International in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Insider Transactions at Weatherford International

In other news, EVP Joseph H. Mongrain sold 17,071 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $89.91, for a total transaction of $1,534,853.61. Following the completion of the transaction, the executive vice president now directly owns 30,483 shares in the company, valued at approximately $2,740,726.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Weatherford International Stock Up 4.8 %

Shares of WFRD opened at $98.45 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.41 and a current ratio of 2.49. The stock has a 50 day moving average price of $92.91 and a 200 day moving average price of $91.31. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 17.42 and a beta of 0.70. Weatherford International plc has a one year low of $51.46 and a one year high of $102.64.

Weatherford International (NASDAQ:WFRDGet Free Report) last issued its earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.48. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. Equities research analysts forecast that Weatherford International plc will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WFRD has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Weatherford International from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. The Goldman Sachs Group boosted their price target on Weatherford International from $101.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. TheStreet downgraded Weatherford International from a “b-” rating to a “c” rating in a research note on Tuesday. Raymond James upped their target price on Weatherford International from $110.00 to $127.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 26th. Finally, Bank of America started coverage on Weatherford International in a research note on Friday, November 10th. They set a “buy” rating and a $120.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $111.50.

Read Our Latest Analysis on WFRD

Weatherford International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Weatherford International (NASDAQ:WFRD)

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