Westwood Holdings Group Inc. Grows Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Westwood Holdings Group Inc. grew its holdings in shares of Weatherford International plc (NASDAQ:WFRDFree Report) by 52.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,392 shares of the company’s stock after purchasing an additional 2,186 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Weatherford International were worth $625,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WFRD. Norges Bank purchased a new position in Weatherford International in the fourth quarter valued at approximately $89,762,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Weatherford International by 1,261.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 381,100 shares of the company’s stock valued at $34,425,000 after acquiring an additional 353,100 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Weatherford International by 101.1% in the 3rd quarter. Acadian Asset Management LLC now owns 656,738 shares of the company’s stock worth $59,309,000 after buying an additional 330,133 shares during the last quarter. Wellington Management Group LLP acquired a new position in Weatherford International in the third quarter valued at approximately $20,965,000. Finally, Northern Trust Corp increased its position in Weatherford International by 29.3% in the third quarter. Northern Trust Corp now owns 888,362 shares of the company’s stock worth $80,246,000 after buying an additional 201,043 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Up 1.3 %

Shares of WFRD stock opened at $112.47 on Monday. The firm has a 50-day moving average price of $119.96 and a 200 day moving average price of $106.25. Weatherford International plc has a 12-month low of $58.04 and a 12-month high of $129.70. The company has a market capitalization of $8.23 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.81 and a beta of 0.66. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48.

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

Insider Buying and Selling

In other news, Director Charles M. Sledge sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 32,729 shares in the company, valued at approximately $4,041,049.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WFRD shares. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Evercore ISI boosted their price target on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Bank of America raised their price target on Weatherford International from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, April 29th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Wednesday, April 24th. Finally, Piper Sandler boosted their price target on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Weatherford International has an average rating of “Buy” and an average target price of $151.88.

Check Out Our Latest Stock Report on Weatherford International

Weatherford International Profile

(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

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

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