By otakuyassine3@gmail.com 
Weatherford International plc (NASDAQ:WFRD – Get Free Report) EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Weatherford International Stock Down 2.6 %
NASDAQ:WFRD traded down $1.66 during mid-day trading on Friday, reaching $62.95. The stock had a trading volume of 1,601,910 shares, compared to its average volume of 1,126,005. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The stock’s 50 day simple moving average is $73.88 and its two-hundred day simple moving average is $89.22. Weatherford International plc has a 1-year low of $61.97 and a 1-year high of $135.00. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.
Analysts Set New Price Targets
A number of research firms recently issued reports on WFRD. Piper Sandler assumed coverage on Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective for the company. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays lowered their target price on Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Evercore ISI reduced their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Citigroup reduced their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Weatherford International presently has a consensus rating of “Moderate Buy” and an average target price of $121.25.
Check Out Our Latest Stock Analysis on Weatherford International
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after buying an additional 959,783 shares during the last quarter. State Street Corp boosted its stake in shares of Weatherford International by 3.1% during the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company’s stock valued at $192,555,000 after buying an additional 68,553 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares during the period. Jennison Associates LLC boosted its stake in shares of Weatherford International by 30.6% during the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after buying an additional 310,259 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Weatherford International by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock valued at $65,723,000 after buying an additional 204,317 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.
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.
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