Swiss National Bank Acquires 3,900 Shares of Weatherford International plc (NASDAQ:WFRD)

Swiss National Bank increased its stake in Weatherford International plc (NASDAQ:WFRDFree Report) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 150,500 shares of the company’s stock after acquiring an additional 3,900 shares during the quarter. Swiss National Bank’s holdings in Weatherford International were worth $13,595,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WFRD. Covestor Ltd boosted its position in Weatherford International by 557.1% during the 2nd quarter. Covestor Ltd now owns 368 shares of the company’s stock valued at $25,000 after acquiring an additional 312 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Weatherford International during the first quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in Weatherford International in the second quarter valued at about $25,000. Quarry LP bought a new position in Weatherford International in the first quarter worth about $28,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Weatherford International in the 4th quarter valued at about $31,000. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TheStreet cut shares of Weatherford International from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Bank of America began coverage on Weatherford International in a research report on Friday, November 10th. They set a “buy” rating and a $120.00 price target on the stock. Raymond James raised their price objective on Weatherford International from $110.00 to $127.00 and gave the company a “strong-buy” rating in a report on Thursday, October 26th. The Goldman Sachs Group boosted their price target on shares of Weatherford International from $101.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Piper Sandler raised their target price on Weatherford International from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Weatherford International currently has an average rating of “Buy” and an average target price of $111.50.

View Our Latest Analysis on Weatherford International

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $96.67 on Monday. The business’s fifty day moving average price is $93.02 and its two-hundred day moving average price is $91.62. Weatherford International plc has a one year low of $51.46 and a one year high of $102.64. The stock has a market cap of $6.99 billion, a PE ratio of 17.11 and a beta of 0.70. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Weatherford International (NASDAQ:WFRDGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. Weatherford International’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. On average, analysts forecast that Weatherford International plc will post 6.61 EPS for the current fiscal year.

Insider Activity

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

About Weatherford International

(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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