Strs Ohio Acquires 900 Shares of Weatherford International plc (NASDAQ:WFRD)

Strs Ohio grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,300 shares of the company’s stock after purchasing an additional 900 shares during the period. Strs Ohio’s holdings in Weatherford International were worth $1,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Weatherford International by 205.1% during the 1st quarter. JPMorgan Chase & Co. now owns 139,569 shares of the company’s stock worth $4,647,000 after purchasing an additional 93,829 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Weatherford International by 8.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,198 shares of the company’s stock worth $406,000 after purchasing an additional 958 shares during the last quarter. Citigroup Inc. increased its stake in shares of Weatherford International by 2,131.7% during the 1st quarter. Citigroup Inc. now owns 28,856 shares of the company’s stock worth $961,000 after purchasing an additional 27,563 shares during the last quarter. BlackRock Inc. increased its stake in shares of Weatherford International by 1.7% during the 1st quarter. BlackRock Inc. now owns 1,182,007 shares of the company’s stock worth $39,361,000 after purchasing an additional 19,287 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Weatherford International by 69.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 476,799 shares of the company’s stock worth $15,873,000 after purchasing an additional 194,685 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the transaction, the director now owns 12,801 shares in the company, valued at approximately $1,241,440.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the completion of the sale, the executive vice president now owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The disclosure for this sale can be found here. Insiders have sold a total of 135,455 shares of company stock worth $13,628,764 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Weatherford International Stock Up 1.7 %

Shares of WFRD opened at $112.79 on Monday. The firm’s 50-day simple moving average is $111.58 and its 200 day simple moving average is $99.73. Weatherford International plc has a 52 week low of $55.81 and a 52 week high of $127.45. The firm has a market cap of $8.16 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Weatherford International plc will post 6.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFRD. Barclays began coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Benchmark boosted their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. 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 note on Tuesday, April 16th. Finally, Bank of America upped their price target on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Weatherford International currently has an average rating of “Buy” and an average target price of $131.00.

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.