Diversified Trust Co Raises Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Diversified Trust Co boosted its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,695 shares of the company’s stock after purchasing an additional 778 shares during the period. Diversified Trust Co’s holdings in Weatherford International were worth $1,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in Weatherford International by 1,148.3% in the third quarter. PNC Financial Services Group Inc. now owns 724 shares of the company’s stock worth $65,000 after buying an additional 666 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Weatherford International by 1,127.2% in the third quarter. Envestnet Asset Management Inc. now owns 43,664 shares of the company’s stock worth $3,944,000 after purchasing an additional 40,106 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Weatherford International by 28.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 5,076 shares of the company’s stock valued at $459,000 after buying an additional 1,119 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Weatherford International by 96.1% during the 3rd quarter. Gotham Asset Management LLC now owns 36,281 shares of the company’s stock valued at $3,277,000 after buying an additional 17,778 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Weatherford International by 4.2% in the 3rd quarter. AQR Capital Management LLC now owns 106,124 shares of the company’s stock worth $9,586,000 after buying an additional 4,238 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WFRD. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Evercore ISI raised their price objective on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Citigroup started coverage on Weatherford International in a report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 target price on the stock. Piper Sandler lifted their price target on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $151.88.

Insiders Place Their Bets

In other news, Director Charles M. Sledge sold 10,000 shares of the 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 sale, the director now directly owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

WFRD traded down $0.41 during trading on Monday, hitting $122.04. The company’s stock had a trading volume of 318,139 shares, compared to its average volume of 860,647. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. Weatherford International plc has a one year low of $63.41 and a one year high of $129.70. The firm has a market cap of $8.93 billion, a PE ratio of 19.71, a P/E/G ratio of 0.88 and a beta of 0.64. The business’s 50 day simple moving average is $119.38 and its 200-day simple moving average is $109.17.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Weatherford International plc will post 6.94 EPS for the current fiscal year.

Weatherford International Company 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.