Zurcher Kantonalbank Zurich Cantonalbank Buys 2,788 Shares of Weatherford International plc (NASDAQ:WFRD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Weatherford International plc (NASDAQ:WFRD) by 20.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,483 shares of the company’s stock after buying an additional 2,788 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Weatherford International were worth $1,613,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Weatherford International in the fourth quarter valued at approximately $27,000. Huntington National Bank bought a new position in Weatherford International during the 3rd quarter worth $30,000. NBC Securities Inc. acquired a new stake in shares of Weatherford International during the third quarter worth $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Weatherford International in the third quarter valued at about $37,000. Finally, AllSquare Wealth Management LLC acquired a new position in shares of Weatherford International in the third quarter valued at about $42,000. 97.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Insiders have sold a total of 135,455 shares of company stock valued at $13,628,764 over the last 90 days. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WFRD. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Wednesday. Bank of America boosted their price target on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Barclays initiated coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price for the company. Piper Sandler lifted their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Weatherford International has an average rating of “Buy” and an average target price of $131.00.

Weatherford International Stock Performance

NASDAQ WFRD opened at $125.01 on Thursday. The firm’s fifty day moving average price is $112.90 and its two-hundred day moving average price is $100.33. The stock has a market cap of $9.04 billion, a PE ratio of 20.23, a PEG ratio of 0.94 and a beta of 0.73. 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 plc has a fifty-two week low of $55.81 and a fifty-two week high of $127.45.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $0.97 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that Weatherford International plc will post 6.73 EPS for the current fiscal year.

Weatherford International Company 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.