Weatherford International plc (NASDAQ:WFRD) Director Sells $1,234,700.00 in Stock

Weatherford International plc (NASDAQ:WFRD - Get Free Report) Director Charles M. Sledge sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the transaction, the director now directly owns 32,729 shares of the company's stock, valued at approximately $4,041,049.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded up $4.32 on Friday, hitting $127.97. 1,077,302 shares of the company were exchanged, compared to its average volume of 833,099. The company's 50 day moving average price is $113.86 and its two-hundred day moving average price is $100.75. Weatherford International plc has a one year low of $55.81 and a one year high of $129.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 2.72. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.99 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm's revenue was up 14.5% on a year-over-year basis. Research analysts expect that Weatherford International plc will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Benchmark restated a "buy" rating and set a $155.00 price target on shares of Weatherford International in a report on Wednesday. TheStreet upgraded shares of Weatherford International from a "c" rating to a "b" rating in a report on Monday, March 11th. Bank of America raised their price target on shares of Weatherford International from $123.00 to $135.00 and gave the company a "buy" rating in a report on Monday, April 15th. Piper Sandler lifted their target price on shares of Weatherford International from $180.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Barclays lifted their target price on shares of Weatherford International from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $136.89.

Institutional Trading of Weatherford International

Several institutional investors have recently made changes to their positions in WFRD. Mesirow Financial Investment Management Inc. acquired a new position in Weatherford International in the first quarter valued at about $1,587,000. New York State Teachers Retirement System boosted its position in Weatherford International by 0.4% in the first quarter. New York State Teachers Retirement System now owns 74,968 shares of the company's stock valued at $8,653,000 after buying an additional 292 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Weatherford International by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the company's stock valued at $2,401,000 after buying an additional 500 shares in the last quarter. Raymond James & Associates boosted its position in Weatherford International by 14.5% in the first quarter. Raymond James & Associates now owns 77,248 shares of the company's stock valued at $8,916,000 after buying an additional 9,799 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its position in Weatherford International by 6.3% in the first quarter. Measured Wealth Private Client Group LLC now owns 4,022 shares of the company's stock valued at $464,000 after buying an additional 238 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.