Weatherford International plc (NASDAQ:WFRD) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in shares of Weatherford International plc (NASDAQ:WFRD) by 39.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,235 shares of the company’s stock after selling 13,441 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Weatherford International were worth $1,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFRD. Parkside Financial Bank & Trust raised its position in Weatherford International by 23.6% during the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock valued at $51,000 after acquiring an additional 107 shares in the last quarter. Mackenzie Financial Corp raised its position in Weatherford International by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock valued at $440,000 after acquiring an additional 140 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International during the fourth quarter valued at approximately $27,000. Huntington National Bank purchased a new position in Weatherford International during the third quarter valued at approximately $30,000. Finally, Bailard Inc. raised its position in Weatherford International by 9.4% during the third quarter. Bailard Inc. now owns 3,828 shares of the company’s stock valued at $346,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WFRD shares. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. 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 report on Monday, April 15th. Raymond James boosted their price objective on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Benchmark boosted their price objective on Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Piper Sandler boosted their price objective on Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $131.00.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD opened at $115.10 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. The business’s 50 day moving average price is $111.93 and its 200-day moving average price is $99.95. The firm has a market capitalization of $8.32 billion, a PE ratio of 20.37, a P/E/G ratio of 0.89 and a beta of 0.73. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $127.45.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, equities research analysts expect that Weatherford International plc will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Weatherford International

In other news, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the transaction, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock valued at $13,628,764 over the last ninety days. Insiders own 2.20% 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.