nVerses Capital LLC Acquires New Stake in Weatherford International plc (NASDAQ:WFRD)

nVerses Capital LLC bought a new position in Weatherford International plc (NASDAQ:WFRD) during the third quarter, Holdings Channel.com reports. The institutional investor bought 400 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new position in shares of Weatherford International during the first quarter worth about $29,000. Fidelis Capital Partners LLC bought a new stake in Weatherford International during the first quarter valued at approximately $33,000. Fifth Third Bancorp grew its stake in Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares in the last quarter. GAMMA Investing LLC grew its stake in Weatherford International by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after buying an additional 128 shares in the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in shares of Weatherford International in the 1st quarter worth $46,000. 97.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on WFRD shares. Bank of America cut their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays cut their price objective on Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup reduced their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Raymond James dropped their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Seven 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 stock currently has a consensus rating of “Buy” and an average price target of $146.88.

Weatherford International Price Performance

WFRD opened at $83.97 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The stock’s 50 day simple moving average is $95.47 and its 200 day simple moving average is $110.88. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.87 and a beta of 0.58. Weatherford International plc has a 1 year low of $82.16 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that Weatherford International plc will post 6.56 earnings per share for the current 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.