Teacher Retirement System of Texas Reduces Holdings in Weatherford International PLC (NASDAQ:WFRD)

Teacher Retirement System of Texas lowered its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 43.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,625 shares of the company's stock after selling 8,155 shares during the quarter. Teacher Retirement System of Texas' holdings in Weatherford International were worth $569,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in shares of Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock valued at $425,894,000 after purchasing an additional 4,443,823 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Weatherford International in the 4th quarter valued at $104,287,000. Norges Bank acquired a new position in shares of Weatherford International in the 4th quarter valued at $65,678,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Weatherford International by 181.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock valued at $93,334,000 after purchasing an additional 840,456 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Weatherford International by 76.7% in the 4th quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock valued at $65,011,000 after purchasing an additional 393,955 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Insider Activity at Weatherford International

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the acquisition, the director directly owned 25,311 shares of the company's stock, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.09% of the company's stock.

Weatherford International Trading Down 1.8%

Weatherford International stock opened at $52.73 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $49.93 and a two-hundred day moving average price of $55.19. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.52 and a beta of 0.76. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $134.39.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Piper Sandler dropped their price target on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Raymond James Financial downgraded shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $73.00 to $69.00 in a research note on Thursday, April 24th. Finally, Citigroup dropped their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $96.63.

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.

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