Weatherford International plc (NASDAQ:WFRD) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its position in Weatherford International plc (NASDAQ:WFRD) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,157 shares of the company’s stock after selling 1,798 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Weatherford International were worth $3,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in Weatherford International by 14.9% in the fourth quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock valued at $7,306,000 after purchasing an additional 9,705 shares during the period. Fifth Third Bancorp lifted its position in shares of Weatherford International by 304.6% during the 4th quarter. Fifth Third Bancorp now owns 611 shares of the company’s stock valued at $60,000 after acquiring an additional 460 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Weatherford International during the 4th quarter valued at approximately $27,000. Legato Capital Management LLC lifted its position in shares of Weatherford International by 15.7% during the 4th quarter. Legato Capital Management LLC now owns 21,647 shares of the company’s stock valued at $2,118,000 after acquiring an additional 2,945 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after acquiring an additional 18,330 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Down 2.9 %

Shares of WFRD opened at $110.41 on Thursday. Weatherford International plc has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The stock has a fifty day moving average of $111.01 and a two-hundred day moving average of $99.33. The company has a market capitalization of $7.98 billion, a PE ratio of 19.54 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $1.12 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts forecast that Weatherford International plc will post 6.74 EPS for the current year.

Insider Activity

In related news, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the sale, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the sale, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock valued at $13,628,764 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFRD. Raymond James lifted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Bank of America lifted their price target on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler lifted their price target on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Finally, Barclays initiated coverage on Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Weatherford International presently has a consensus rating of “Buy” and an average target price of $131.00.

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.