Weatherford International plc (NASDAQ:WFRD) Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in Weatherford International plc (NASDAQ:WFRD) by 614.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,612 shares of the company’s stock after buying an additional 151,897 shares during the quarter. SG Americas Securities LLC owned approximately 0.24% of Weatherford International worth $20,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Weatherford International in the 4th quarter valued at approximately $89,762,000. Wellington Management Group LLP bought a new position in shares of Weatherford International in the 3rd quarter worth about $20,965,000. Jennison Associates LLC boosted its holdings in shares of 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 buying an additional 191,855 shares during the period. Dimensional Fund Advisors LP raised its stake in Weatherford International by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,124,495 shares of the company’s stock worth $110,013,000 after acquiring an additional 126,482 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Weatherford International by 1.6% in the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after acquiring an additional 120,401 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WFRD shares. Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, April 24th. Bank of America raised their target price on Weatherford International from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Raymond James upped their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. 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 report on Thursday, April 25th. Finally, Barclays raised their price target on shares of Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Seven investment 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, Weatherford International has an average rating of “Buy” and a consensus target price of $151.88.

Weatherford International Price Performance

Shares of Weatherford International stock traded up $1.51 on Friday, hitting $127.72. The company had a trading volume of 970,614 shares, compared to its average volume of 1,092,071. Weatherford International plc has a 52 week low of $72.57 and a 52 week high of $130.61. The company has a market cap of $9.34 billion, a PE ratio of 20.67, a PEG ratio of 0.90 and a beta of 0.64. The business has a 50-day simple moving average of $119.61 and a 200-day simple moving average of $111.02. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Research analysts expect that Weatherford International plc will post 6.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles M. Sledge sold 10,000 shares of Weatherford International 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 transaction, the director now owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company 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.