Weatherford International plc (NASDAQ:WFRD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in Weatherford International plc (NASDAQ:WFRD) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 230,669 shares of the company’s stock after selling 1,423 shares during the period. Wellington Management Group LLP’s holdings in Weatherford International were worth $22,566,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Weatherford International in the 4th quarter worth about $518,000. Greenlight Capital Inc. lifted its position in shares of Weatherford International by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 456,605 shares of the company’s stock worth $44,670,000 after buying an additional 26,550 shares during the last quarter. Bridgewater Associates LP lifted its position in shares of Weatherford International by 117.8% in the 4th quarter. Bridgewater Associates LP now owns 175,461 shares of the company’s stock worth $17,165,000 after buying an additional 94,916 shares during the last quarter. Capital Fund Management S.A. lifted its position in shares of Weatherford International by 24.1% in the 4th quarter. Capital Fund Management S.A. now owns 84,641 shares of the company’s stock worth $8,280,000 after buying an additional 16,443 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Weatherford International by 52.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 6,392 shares of the company’s stock worth $625,000 after buying an additional 2,186 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WFRD shares. Citigroup started coverage on shares of Weatherford International in a research report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 price target on the stock. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research report on Wednesday, April 24th. Evercore ISI lifted their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Raymond James lifted their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler lifted their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $151.88.

Weatherford International Stock Up 0.8 %

Weatherford International stock opened at $121.26 on Wednesday. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 0.83 and a beta of 0.66. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The company’s 50-day moving average price is $118.76 and its two-hundred day moving average price is $108.42. Weatherford International plc has a 52 week low of $62.76 and a 52 week high of $129.70.

Weatherford International (NASDAQ:WFRD) last released 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. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. Weatherford International’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. On average, analysts expect that Weatherford International plc will post 6.94 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the transaction, the director now owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

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.