Gradient Investments LLC Acquires 1,078 Shares of Weatherford International plc (NASDAQ:WFRD)

Gradient Investments LLC increased its stake in Weatherford International plc (NASDAQ:WFRD) by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,852 shares of the company’s stock after buying an additional 1,078 shares during the quarter. Gradient Investments LLC’s holdings in Weatherford International were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WFRD. Farther Finance Advisors LLC raised its position in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the period. nVerses Capital LLC bought a new stake in shares of Weatherford International in the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp purchased a new position in Weatherford International in the third quarter valued at approximately $42,000. GAMMA Investing LLC grew its holdings in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after purchasing an additional 141 shares during the period. Finally, Park Place Capital Corp increased its position in Weatherford International by 1,516.2% in the third quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after buying an additional 561 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WFRD. Citigroup cut their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Bank of America cut their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays lowered their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on shares of Weatherford International in a report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Evercore ISI lowered their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.25.

Weatherford International Stock Performance

Weatherford International stock opened at $70.23 on Friday. Weatherford International plc has a 1-year low of $66.23 and a 1-year high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $5.10 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.64. The firm’s 50 day simple moving average is $75.24 and its 200 day simple moving average is $90.63.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $1.66 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that Weatherford International plc will post 6.66 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the sale, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Company 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.