Weatherford International plc (NASDAQ:WFRD) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its position in shares of Weatherford International plc (NASDAQ:WFRD) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 918 shares of the company’s stock after acquiring an additional 174 shares during the quarter. Covestor Ltd’s holdings in Weatherford International were worth $106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Weatherford International during the fourth quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in Weatherford International during the first quarter worth about $33,000. Parallel Advisors LLC boosted its holdings in Weatherford International by 189.0% during the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after buying an additional 189 shares in the last quarter. Rise Advisors LLC purchased a new stake in Weatherford International during the first quarter worth about $34,000. Finally, Quadrant Capital Group LLC boosted its holdings in Weatherford International by 539.1% during the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after buying an additional 248 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Weatherford International

In related news, Director Charles M. Sledge sold 10,000 shares of the company’s stock in a transaction that occurred on 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 $4,041,049.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $1.00 on Tuesday, hitting $133.23. The company’s stock had a trading volume of 430,008 shares, compared to its average volume of 843,206. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 0.87 and a beta of 0.64. The stock has a 50 day moving average of $120.55 and a 200-day moving average of $112.66. Weatherford International plc has a 12-month low of $76.07 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, research analysts predict that Weatherford International plc will post 7.1 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on WFRD shares. Raymond James boosted their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a report on Wednesday, April 24th. Barclays boosted their price objective on shares of Weatherford International from $135.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Piper Sandler boosted their price objective 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. Finally, Bank of America upped their price target on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Weatherford International presently has an average rating of “Buy” and a consensus target price of $152.50.

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.