Weatherford International plc (NASDAQ:WFRD) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,676 shares of the company’s stock after buying an additional 9,705 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Weatherford International worth $7,306,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its stake in Weatherford International by 23.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock valued at $51,000 after buying an additional 107 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Weatherford International by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,612 shares of the company’s stock worth $1,900,000 after purchasing an additional 178 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Weatherford International by 5.1% in the 3rd quarter. Toroso Investments LLC now owns 5,165 shares of the company’s stock worth $467,000 after purchasing an additional 250 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Weatherford International by 31.8% in the 3rd quarter. Legal & General Group Plc now owns 1,141 shares of the company’s stock worth $106,000 after purchasing an additional 275 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Weatherford International in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark lifted their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Finally, Barclays initiated coverage on shares of Weatherford International in a report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price for the company. Seven 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $126.56.

Weatherford International Stock Performance

WFRD stock opened at $120.68 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. The stock has a market cap of $8.73 billion, a P/E ratio of 21.36 and a beta of 0.73. The firm has a 50 day simple moving average of $108.90 and a 200 day simple moving average of $98.65. Weatherford International plc has a 52 week low of $55.81 and a 52 week high of $127.45.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.42 by $0.48. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. Research analysts anticipate that Weatherford International plc will post 6.74 earnings per share for the current fiscal year.

Weatherford International Profile

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.