Headlands Technologies LLC Raises Stake in Weatherford International plc (NASDAQ:WFRD)

Headlands Technologies LLC grew its holdings in Weatherford International plc (NASDAQ:WFRD) by 147.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,971 shares of the company’s stock after acquiring an additional 1,768 shares during the quarter. Headlands Technologies LLC’s holdings in Weatherford International were worth $291,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WFRD. State of New Jersey Common Pension Fund D raised its stake in shares of Weatherford International by 4.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 40,166 shares of the company’s stock worth $3,929,000 after purchasing an additional 1,678 shares during the last quarter. Wolverine Asset Management LLC increased its stake in shares of Weatherford International by 166.5% during the fourth quarter. Wolverine Asset Management LLC now owns 7,031 shares of the company’s stock worth $688,000 after acquiring an additional 17,600 shares during the period. Parkside Financial Bank & Trust raised its holdings in Weatherford International by 29.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 726 shares of the company’s stock worth $71,000 after purchasing an additional 166 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Weatherford International in the fourth quarter valued at about $544,000. Finally, Jennison Associates LLC boosted its holdings in Weatherford International by 17.6% in the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after purchasing an additional 191,855 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WFRD. Piper Sandler lifted their price target on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Raymond James lifted their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Wednesday. Seven 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, the company presently has an average rating of “Buy” and an average price target of $143.75.

Weatherford International Price Performance

NASDAQ:WFRD opened at $127.97 on Friday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. Weatherford International plc has a 12-month low of $55.81 and a 12-month high of $129.70. 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 is $113.86 and its two-hundred day moving average is $100.80.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. Weatherford International’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. Research analysts expect that Weatherford International plc will post 6.93 EPS for the current year.

Insider Activity

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 stock was sold at an average price of $123.47, for a total value of $1,234,700.00. Following the sale, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Girish Saligram sold 60,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles M. Sledge sold 10,000 shares of Weatherford International stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the transaction, the director now owns 32,729 shares in the company, valued at approximately $4,041,049.63. The disclosure for this sale can be found here. Insiders sold a total of 145,455 shares of company stock valued at $14,863,464 over the last quarter. Company insiders own 2.20% of the company’s stock.

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.