Charles M. Sledge Sells 10,000 Shares of Weatherford International plc (NASDAQ:WFRD) Stock

Weatherford International plc (NASDAQ:WFRD) Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $123.47, for a total value of $1,234,700.00. Following the sale, the director now owns 32,729 shares in the company, valued at $4,041,049.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Weatherford International Trading Up 3.5 %

WFRD opened at $127.97 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37. The company’s 50 day simple moving average is $113.86 and its two-hundred day simple moving average is $100.80. Weatherford International plc has a 1-year low of $55.81 and a 1-year high of $129.70. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released 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. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company posted $0.97 EPS. The business’s revenue was up 14.5% on a year-over-year basis. Analysts expect that Weatherford International plc will post 6.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International in the 4th quarter worth approximately $27,000. Parallel Advisors LLC grew its position in Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the period. Rise Advisors LLC purchased a new position in Weatherford International in the first quarter worth approximately $34,000. Quadrant Capital Group LLC increased its stake in Weatherford International by 539.1% during the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the last quarter. Finally, CWM LLC raised its position 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 purchasing an additional 185 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WFRD shares. Barclays raised their target price on Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler raised their price target on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America raised 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. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday. Finally, TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $143.75.

Weatherford International Company Profile

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.