Weatherford International plc (NASDAQ:WFRD) Shares Purchased by KBC Group NV

KBC Group NV grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 56.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,048 shares of the company’s stock after purchasing an additional 1,103 shares during the period. KBC Group NV’s holdings in Weatherford International were worth $218,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WFRD. GAMMA Investing LLC increased its stake in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after buying an additional 141 shares during the period. Legacy Wealth Asset Management LLC grew its stake in shares of Weatherford International by 7.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock worth $255,000 after acquiring an additional 203 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the period. Hancock Whitney Corp boosted its holdings in Weatherford International by 1.9% in the third quarter. Hancock Whitney Corp now owns 14,994 shares of the company’s stock valued at $1,273,000 after purchasing an additional 284 shares during the period. Finally, nVerses Capital LLC purchased a new position in Weatherford International in the third quarter valued at $34,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Activity

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

NASDAQ WFRD opened at $65.00 on Wednesday. The company has a fifty day moving average of $72.68 and a two-hundred day moving average of $87.21. The company has a market capitalization of $4.72 billion, a PE ratio of 9.13, a P/E/G ratio of 1.35 and a beta of 0.61. Weatherford International plc has a 1 year low of $60.45 and a 1 year high of $135.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WFRD shares. Bank of America decreased their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Piper Sandler started coverage on shares of Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target for the company. Benchmark restated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Thursday, October 24th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Finally, Citigroup cut their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

About Weatherford International

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.