M&T Bank Corp Acquires 1,706 Shares of Weatherford International PLC (NASDAQ:WFRD)

M&T Bank Corp increased its position in Weatherford International PLC (NASDAQ:WFRD) by 36.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,352 shares of the company’s stock after acquiring an additional 1,706 shares during the quarter. M&T Bank Corp’s holdings in Weatherford International were worth $340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Weatherford International by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company’s stock worth $551,760,000 after purchasing an additional 270,775 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Weatherford International by 295.9% during the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company’s stock worth $425,894,000 after acquiring an additional 4,443,823 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Weatherford International by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company’s stock valued at $315,375,000 after acquiring an additional 298,811 shares during the period. FMR LLC lifted its holdings in Weatherford International by 1.8% during the fourth quarter. FMR LLC now owns 3,638,934 shares of the company’s stock valued at $260,657,000 after purchasing an additional 65,931 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Weatherford International during the 4th quarter worth about $104,287,000. Institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WFRD. Citigroup cut their price objective on shares of Weatherford International from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Raymond James Financial lowered shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $73.00 to $69.00 in a research note on Thursday, April 24th. Piper Sandler cut their price target on Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Barclays dropped their target price on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.63.

Weatherford International Stock Performance

Shares of WFRD stock opened at $53.71 on Friday. Weatherford International PLC has a one year low of $36.74 and a one year high of $134.39. The company has a fifty day moving average price of $50.09 and a two-hundred day moving average price of $55.08. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The stock has a market cap of $3.90 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.50 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman acquired 12,000 shares of Weatherford International stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the purchase, the director directly owned 25,311 shares of the company’s stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.09% of the company’s stock.

Weatherford International 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.