Weatherford International plc (NASDAQ:WFRD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in Weatherford International plc (NASDAQ:WFRD) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,677 shares of the company’s stock after selling 1,186 shares during the period. Los Angeles Capital Management LLC’s holdings in Weatherford International were worth $2,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank bought a new stake in Weatherford International in the third quarter valued at about $30,000. New York State Teachers Retirement System increased its holdings in shares of Weatherford International by 14.9% in the 4th quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock valued at $7,306,000 after acquiring an additional 9,705 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Weatherford International by 287.1% in the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after acquiring an additional 18,330 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Weatherford International during the 4th quarter valued at approximately $1,986,000. Finally, Principal Financial Group Inc. lifted its stake in Weatherford International by 1,564.7% during the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after purchasing an additional 264,284 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Evercore ISI increased their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Raymond James increased their price target on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, Bank of America boosted their price objective on Weatherford International from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International presently has a consensus rating of “Buy” and an average price target of $145.00.

Insider Buying and Selling at Weatherford International

In related news, CEO Girish Saligram sold 60,000 shares of the company’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 value of $6,214,200.00. Following the completion of the sale, the chief executive officer now owns 146,895 shares in the company, valued at approximately $15,213,915.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Charles M. Sledge sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $123.47, for a total value of $1,234,700.00. Following the transaction, the director now owns 32,729 shares in the company, valued at approximately $4,041,049.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the business’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 $15,213,915.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,455 shares of company stock valued at $14,863,464. 1.60% of the stock is currently owned by corporate insiders.

Weatherford International Price Performance

NASDAQ WFRD opened at $124.59 on Tuesday. The stock has a market capitalization of $9.11 billion, a P/E ratio of 20.16, a P/E/G ratio of 0.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84. The business’s fifty day moving average is $115.81 and its two-hundred day moving average is $101.83. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $129.70.

Weatherford International (NASDAQ:WFRD) last announced 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 52.88% and a net margin of 8.61%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Weatherford International’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that Weatherford International plc will post 6.94 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.