Weatherford International plc (NASDAQ:WFRD) Holdings Lowered by Amalgamated Bank

Amalgamated Bank lowered its stake in Weatherford International plc (NASDAQ:WFRD) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,754 shares of the company’s stock after selling 1,116 shares during the quarter. Amalgamated Bank’s holdings in Weatherford International were worth $4,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Weatherford International by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after acquiring an additional 120,401 shares during the period. American Century Companies Inc. boosted its holdings in shares of Weatherford International by 5.2% during the third quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock worth $121,097,000 after purchasing an additional 65,935 shares during the period. Jennison Associates LLC grew its position in Weatherford International by 17.6% during the fourth quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after purchasing an additional 191,855 shares in the last quarter. Van ECK Associates Corp acquired a new position in Weatherford International in the 3rd quarter valued at approximately $114,430,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Weatherford International by 22.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,018 shares of the company’s stock worth $81,479,000 after buying an additional 167,622 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

Shares of WFRD stock opened at $122.60 on Thursday. The stock has a 50-day moving average of $116.60 and a 200-day moving average of $102.27. Weatherford International plc has a one year low of $55.81 and a one year high of $129.70. The stock has a market cap of $8.97 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.97 EPS. Weatherford International’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Weatherford International plc will post 6.94 earnings per share for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $97.58, for a total transaction of $1,170,960.00. Following the sale, the director now directly owns 24,801 shares of the company’s stock, valued at approximately $2,420,081.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles M. Sledge sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the transaction, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $97.58, for a total transaction of $1,170,960.00. Following the sale, the director now owns 24,801 shares of the company’s stock, valued at approximately $2,420,081.58. The disclosure for this sale can be found here. Insiders sold 94,000 shares of company stock valued at $9,783,620 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WFRD has been the topic of several research analyst reports. Bank of America upped their price target on shares of Weatherford International from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Wednesday, April 24th. Evercore ISI lifted their price target on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Barclays raised their price target on shares of Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $145.00.

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.