Victory Capital Management Inc. Has $56.04 Million Stock Holdings in Weatherford International PLC (NASDAQ:WFRD)

Victory Capital Management Inc. boosted its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 43.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,046,520 shares of the company's stock after acquiring an additional 318,254 shares during the quarter. Victory Capital Management Inc. owned 1.44% of Weatherford International worth $56,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Xponance Inc. boosted its position in Weatherford International by 1.0% in the fourth quarter. Xponance Inc. now owns 17,072 shares of the company's stock valued at $1,223,000 after buying an additional 167 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Weatherford International by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after buying an additional 200 shares in the last quarter. Covestor Ltd lifted its position in shares of Weatherford International by 30.1% during the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after purchasing an additional 214 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Weatherford International by 1.4% during the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock worth $861,000 after purchasing an additional 228 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Weatherford International Stock Down 0.3%

Shares of WFRD stock traded down $0.14 during trading hours on Friday, hitting $53.57. 1,078,710 shares of the company were exchanged, compared to its average volume of 1,189,300. The business has a 50 day moving average of $50.24 and a two-hundred day moving average of $54.84. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $134.39. The company has a market capitalization of $3.89 billion, a PE ratio of 8.57, a PEG ratio of 1.52 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Weatherford International news, Director Neal P. Goldman bought 12,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the transaction, the director owned 25,311 shares in the company, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.09% 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.