Arizona State Retirement System Sells 385 Shares of Weatherford International PLC (NASDAQ:WFRD)

Arizona State Retirement System trimmed its position in Weatherford International PLC (NASDAQ:WFRD) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,817 shares of the company’s stock after selling 385 shares during the period. Arizona State Retirement System’s holdings in Weatherford International were worth $1,115,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Weatherford International during the fourth quarter valued at about $7,215,000. HighTower Advisors LLC lifted its position in Weatherford International by 16.7% during the fourth quarter. HighTower Advisors LLC now owns 8,676 shares of the company’s stock valued at $621,000 after purchasing an additional 1,243 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Weatherford International by 45.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,643 shares of the company’s stock valued at $261,000 after purchasing an additional 1,137 shares during the period. Commonwealth Equity Services LLC increased its holdings in Weatherford International by 123.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,484 shares of the company’s stock valued at $679,000 after buying an additional 5,239 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company’s stock valued at $1,223,000 after buying an additional 167 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Insider Activity at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the transaction, the director owned 25,311 shares in the company, valued at $1,064,074.44. The trade was a 90.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD opened at $53.57 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $134.39. The company’s 50 day simple moving average is $50.24 and its 200-day simple moving average is $54.84. The firm has a market cap of $3.89 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.52 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 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.