Insider Selling: Weatherford International plc (NASDAQ:WFRD) Director Sells 10,000 Shares of Stock

Weatherford International plc (NASDAQ:WFRD) Director Charles M. Sledge sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 32,729 shares in the company, valued at approximately $4,041,049.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Weatherford International Stock Up 3.5 %

Shares of WFRD stock traded up $4.32 on Friday, reaching $127.97. 1,076,863 shares of the stock were exchanged, compared to its average volume of 833,087. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The business’s 50 day moving average price is $113.33 and its 200 day moving average price is $100.50. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 0.99 and a beta of 0.73. Weatherford International plc has a twelve month low of $55.81 and a twelve month high of $129.70.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Weatherford International plc will post 6.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Weatherford International in the fourth quarter valued at about $27,000. Parallel Advisors LLC lifted its position in shares of Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after acquiring an additional 189 shares during the period. Rise Advisors LLC acquired a new stake in shares of Weatherford International during the 1st quarter valued at approximately $34,000. Quadrant Capital Group LLC lifted its position 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 valued at $29,000 after acquiring an additional 248 shares during the period. Finally, CWM LLC lifted its position in shares of Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on WFRD shares. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research report on Wednesday. Barclays lifted their price objective on Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America lifted their price target on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Finally, Piper Sandler boosted their target price on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday. Seven 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, Weatherford International presently has a consensus rating of “Buy” and an average price target of $136.89.

About Weatherford International

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.