Los Angeles Capital Management LLC Has $3.65 Million Holdings in Weatherford International plc (NASDAQ:WFRD)

Los Angeles Capital Management LLC boosted its holdings in Weatherford International plc (NASDAQ:WFRD) by 6.4% in the first quarter, HoldingsChannel reports. The firm owned 31,587 shares of the company’s stock after purchasing an additional 1,910 shares during the period. Los Angeles Capital Management LLC’s holdings in Weatherford International were worth $3,646,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. acquired a new position in Weatherford International during the fourth quarter worth $27,000. Parallel Advisors LLC grew its stake in Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares during the period. Quadrant Capital Group LLC grew its position in Weatherford International by 539.1% during the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after buying an additional 248 shares during the period. CWM LLC grew its position in shares of Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Weatherford International in the third quarter worth $37,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 0.6 %

NASDAQ WFRD opened at $116.21 on Friday. Weatherford International plc has a 12 month low of $58.67 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 stock’s fifty day moving average price is $118.64 and its 200-day moving average price is $107.41. The stock has a market cap of $8.50 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.83 and a beta of 0.66.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. The company 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%. Weatherford International’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. As a group, equities analysts forecast that Weatherford International plc will post 6.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of recent research reports. 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 note on Thursday, April 25th. Barclays lifted their price target on Weatherford International from $135.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Raymond James upped 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 note on Tuesday, April 16th. Evercore ISI raised their price target on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup initiated coverage on Weatherford International in a report on Tuesday, May 14th. They set a “buy” rating and a $155.00 target price on the stock. 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.com, Weatherford International presently has an average rating of “Buy” and an average price target of $151.88.

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 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 directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

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.