Weatherford International plc (NASDAQ:WFRD) EVP Scott C. Weatherholt Sells 44,505 Shares

Weatherford International plc (NASDAQ:WFRDGet Free Report) EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Weatherford International Trading Down 2.6 %

Shares of NASDAQ:WFRD opened at $62.95 on Friday. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.41 and a beta of 0.64. Weatherford International plc has a 12 month low of $61.97 and a 12 month high of $135.00. The company’s fifty day simple moving average is $73.43 and its 200 day simple moving average is $88.74. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20.

Institutional Investors Weigh In On Weatherford International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Weatherford International by 551.1% during the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after purchasing an additional 1,219,553 shares during the last quarter. FMR LLC raised its stake in shares of Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after purchasing an additional 959,783 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after buying an additional 310,259 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Weatherford International by 402.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock valued at $27,555,000 after buying an additional 259,924 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Weatherford International by 28.6% during the fourth quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock worth $65,723,000 after buying an additional 204,317 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFRD. Citigroup lowered their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Bank of America reduced their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Barclays decreased their target price 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Weatherford International presently has a consensus rating of “Moderate Buy” and an average target price of $121.25.

View Our Latest Research Report on WFRD

About Weatherford International

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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.

Further Reading

Insider Buying and Selling by Quarter for Weatherford International (NASDAQ:WFRD)

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