State of Michigan Retirement System increased its holdings in Weatherford International plc (NASDAQ:WFRD – Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,800 shares of the company’s stock after purchasing an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Weatherford International were worth $2,054,000, according to the most recent SEC filing.
Other major investors have also changed their hold on the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Weatherford International during the fourth quarter valued at $27,000. Parallel Advisors LLC increased its stake in Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after acquiring an additional 189 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after acquiring an additional 248 shares in the last quarter. CWM LLC increased its stake in Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares during the same period. Finally, Rise Advisors LLC acquired a new position in Weatherford International in the first quarter valued at approximately $34,000. Institutional investors own 97.23% of the company’s shares.
Price development at Weatherford International
WFRD shares opened at $125.53 on Friday. The stock’s 50-day moving average is $119.69 and its 200-day moving average is $109.87. The company has a liquidity ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The company has a market cap of $9.18 billion, a P/E ratio of 20.31, a PEG ratio of 0.90 and a beta of 0.64. Weatherford International plc has a 12-month low of $63.41 and a 12-month high of $129.70.
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings results on Tuesday, April 23. The company reported earnings per share of $1.50 for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The company posted revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. In the same quarter last year, the company posted earnings per share of $0.97. The company’s revenue grew 14.5% compared to the same quarter last year. As a group, equities analysts expect Weatherford International plc to report earnings per share of $6.94 for the current year.
Wall Street analysts predict growth
Several analysts have recently commented on the stock. Barclays raised 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. Citigroup assumed coverage on Weatherford International in a report on Tuesday, May 14th. They gave the company a “buy” rating and a $155.00 price target. Piper Sandler raised their price target on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Evercore ISI raised their price target on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Bank of America raised their price target on Weatherford International from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, April 29. Seven investment analysts have rated the stock with a “buy” rating and one has given the company a “strong buy” rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $151.88.
Read our latest stock analysis on WFRD
Insider Activities at Weatherford International
In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of Weatherford International stock in a transaction that occurred on Thursday, April 25. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the sale, the director now directly owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the shares are currently owned by insiders.
Weatherford International Company Profile
(Free report)
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 in three segments: Drilling and Evaluation; Well Construction and Completion; and Production and Intervention.
Selected items
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