SG Americas Securities LLC Purchases 7,627 Shares of Weatherford International PLC $WFRD

SG Americas Securities LLC lifted its position in shares of Weatherford International PLC (NASDAQ:WFRD) by 98.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,341 shares of the company’s stock after purchasing an additional 7,627 shares during the period. SG Americas Securities LLC’s holdings in Weatherford International were worth $1,050,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in Weatherford International during the third quarter worth approximately $35,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Weatherford International in the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after acquiring an additional 240 shares during the last quarter. Finally, American National Bank & Trust increased its holdings in shares of Weatherford International by 2,392.0% during the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after acquiring an additional 598 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Price Performance

Weatherford International stock opened at $83.74 on Monday. The stock’s fifty day moving average price is $78.44 and its two-hundred day moving average price is $67.88. The firm has a market cap of $6.01 billion, a PE ratio of 15.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. Weatherford International PLC has a one year low of $36.74 and a one year high of $91.23.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business posted $2.06 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, research analysts expect that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total transaction of $164,465.25. Following the completion of the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

WFRD has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, October 8th. Piper Sandler upped their price target on shares of Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. BMO Capital Markets started coverage on shares of Weatherford International in a research report on Friday, October 10th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and an average target price of $94.70.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.