Parallel Advisors LLC Purchases 189 Shares of Weatherford International plc (NASDAQ:WFRD)

Parallel Advisors LLC lifted its stake in shares of Weatherford International plc (NASDAQ:WFRDFree Report) by 189.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 289 shares of the company’s stock after acquiring an additional 189 shares during the quarter. Parallel Advisors LLC’s holdings in Weatherford International were worth $28,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International in the 4th quarter worth approximately $27,000. Quadrant Capital Group LLC raised its holdings in shares of Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares in the last quarter. CWM LLC raised its holdings in shares of Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Huntington National Bank purchased a new stake in shares of Weatherford International during the 3rd quarter worth approximately $30,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Weatherford International during the 3rd quarter worth approximately $37,000. 97.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the sale, the director now directly 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 is available at this link. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFRD. Piper Sandler upped their price objective on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Citigroup assumed coverage on Weatherford International in a report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target on the stock. Evercore ISI upped their price objective on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Bank of America upped their price objective on Weatherford International from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $151.88.

View Our Latest Stock Analysis on WFRD

Weatherford International Trading Up 1.3 %

Shares of NASDAQ WFRD opened at $112.47 on Monday. 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 stock has a market capitalization of $8.23 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. Weatherford International plc has a 1-year low of $58.04 and a 1-year high of $129.70. The business has a fifty day moving average price of $119.96 and a 200 day moving average price of $106.25.

Weatherford International (NASDAQ:WFRDGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts expect that Weatherford International plc will post 6.94 EPS for the current fiscal year.

About Weatherford International

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Weatherford International (NASDAQ:WFRD)

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