Weatherford International plc (NASDAQ:WFRD) Stake Increased by Strs Ohio

Strs Ohio grew its holdings in Weatherford International plc (NASDAQ:WFRD) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,300 shares of the company’s stock after purchasing an additional 900 shares during the period. Strs Ohio’s holdings in Weatherford International were worth $1,496,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its holdings in shares of Weatherford International by 23.6% in the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock valued at $51,000 after purchasing an additional 107 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Weatherford International by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 28,612 shares of the company’s stock valued at $1,900,000 after purchasing an additional 178 shares in the last quarter. Toroso Investments LLC lifted its holdings in shares of Weatherford International by 5.1% in the third quarter. Toroso Investments LLC now owns 5,165 shares of the company’s stock valued at $467,000 after purchasing an additional 250 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Weatherford International by 31.8% in the third quarter. Legal & General Group Plc now owns 1,141 shares of the company’s stock worth $106,000 after acquiring 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 fourth quarter worth $27,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 1.7 %

Weatherford International stock opened at $112.79 on Monday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 0.89 and a beta of 0.73. Weatherford International plc has a one year low of $55.81 and a one year high of $127.45. The company’s fifty day moving average price is $111.58 and its two-hundred day moving average price is $99.73.

Weatherford International (NASDAQ:WFRD) last issued its quarterly 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 for 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%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. On average, analysts forecast that Weatherford International plc will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares in the company, valued at $1,241,440.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction dated 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 completion of the sale, 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. Over the last ninety days, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WFRD. Piper Sandler upped their price target on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Barclays began coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price target on the stock. Benchmark upped their price target 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. Bank of America upped their price target on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Raymond James upped their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Weatherford International has an average rating of “Buy” and a consensus target price of $131.00.

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.