Charles Schwab Investment Management Inc. Raises Holdings in Weatherford International plc (NASDAQ:WFRD)

Charles Schwab Investment Management Inc. increased its holdings in shares of Weatherford International plc (NASDAQ:WFRDFree Report) by 22.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 902,018 shares of the company’s stock after acquiring an additional 167,622 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Weatherford International were worth $81,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFRD. First Hawaiian Bank purchased a new position in Weatherford International in the 3rd quarter valued at $738,000. Principal Financial Group Inc. lifted its holdings in Weatherford International by 1,564.7% in the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock valued at $25,398,000 after purchasing an additional 264,284 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Weatherford International by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,379,210 shares of the company’s stock valued at $91,607,000 after purchasing an additional 67,559 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Weatherford International in the 3rd quarter valued at $13,811,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Weatherford International by 58.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 30,863 shares of the company’s stock worth $2,788,000 after acquiring an additional 11,420 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Weatherford International Stock Up 1.0 %

Shares of NASDAQ:WFRD opened at $97.62 on Tuesday. The business has a 50-day moving average price of $93.15 and a 200 day moving average price of $91.75. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 17.28 and a beta of 0.70. Weatherford International plc has a 12-month low of $51.46 and a 12-month high of $102.64.

Weatherford International (NASDAQ:WFRDGet Free Report) last released its earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share 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 the consensus estimate of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. Weatherford International’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Sell-side analysts expect that Weatherford International plc will post 6.61 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFRD. The Goldman Sachs Group lifted their price target on Weatherford International from $101.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Raymond James lifted their price target on Weatherford International from $110.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 26th. Piper Sandler lifted their price target on Weatherford International from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. TheStreet lowered Weatherford International from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Bank of America began coverage on Weatherford International in a report on Friday, November 10th. They set a “buy” rating and a $120.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $111.50.

Read Our Latest Research Report on WFRD

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at approximately $12,365,629.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Insiders sold a total of 92,526 shares of company stock valued at $8,949,418 in the last three months. 2.20% of the stock is owned by corporate insiders.

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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Want to see what other hedge funds are holding WFRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weatherford International plc (NASDAQ:WFRDFree Report).

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

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