Weatherford International plc (NASDAQ:WFRD) Position Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,157 shares of the company’s stock after selling 1,798 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Weatherford International were worth $3,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its holdings in Weatherford International by 14.9% during the fourth quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock worth $7,306,000 after buying an additional 9,705 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Weatherford International by 304.6% in the 4th quarter. Fifth Third Bancorp now owns 611 shares of the company’s stock valued at $60,000 after acquiring an additional 460 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $27,000. Legato Capital Management LLC lifted its position in shares of Weatherford International by 15.7% in the 4th quarter. Legato Capital Management LLC now owns 21,647 shares of the company’s stock valued at $2,118,000 after acquiring an additional 2,945 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Weatherford International by 287.1% in the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after acquiring an additional 18,330 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Price Performance

WFRD opened at $110.41 on Thursday. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 19.54 and a beta of 0.73. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $127.45. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. The stock has a fifty day moving average price of $111.01 and a 200 day moving average price of $99.33.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts forecast that Weatherford International plc will post 6.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WFRD. Barclays began coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price target for the company. Raymond James upped their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Piper Sandler upped their price target on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Finally, Benchmark upped their price target on shares of Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $131.00.

Insiders Place Their Bets

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock valued at $13,628,764 over the last quarter. Insiders own 2.20% 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.