New York State Teachers Retirement System Buys 9,705 Shares of Weatherford International plc (NASDAQ:WFRD)

New York State Teachers Retirement System boosted its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,676 shares of the company's stock after buying an additional 9,705 shares during the period. New York State Teachers Retirement System owned 0.10% of Weatherford International worth $7,306,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new position in shares of Weatherford International in the third quarter valued at approximately $114,430,000. State Street Corp increased its holdings in shares of Weatherford International by 317.1% in the second quarter. State Street Corp now owns 1,571,745 shares of the company's stock valued at $33,274,000 after purchasing an additional 1,194,930 shares during the period. Millennium Management LLC increased its holdings in shares of Weatherford International by 465.6% in the fourth quarter. Millennium Management LLC now owns 1,143,602 shares of the company's stock valued at $58,232,000 after purchasing an additional 941,426 shares during the period. Merewether Investment Management LP acquired a new position in shares of Weatherford International in the fourth quarter valued at approximately $40,991,000. Finally, Northern Trust Corp increased its holdings in shares of Weatherford International by 274.7% in the second quarter. Northern Trust Corp now owns 641,029 shares of the company's stock valued at $13,570,000 after purchasing an additional 469,941 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WFRD shares. Piper Sandler lifted their price target on Weatherford International from $138.00 to $180.00 and gave the company an "overweight" rating in a research note on Monday. Benchmark lifted their price target on Weatherford International from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Barclays started coverage on Weatherford International in a research note on Wednesday, February 28th. They issued an "overweight" rating and a $135.00 price target on the stock. Finally, TheStreet upgraded Weatherford International from a "c" rating to a "b" rating in a research note on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Weatherford International currently has an average rating of "Buy" and a consensus price target of $126.56.

Insider Transactions at Weatherford International

In other news, CEO Girish Saligram sold 60,000 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the transaction, the chief executive officer now directly owns 146,895 shares of the company's stock, valued at $15,213,915.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Scott C. Weatherholt sold 40,455 shares of the company's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at $12,365,629.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the transaction, the chief executive officer now owns 146,895 shares of the company's stock, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock valued at $13,628,764 over the last three months. 2.20% of the stock is currently owned by insiders.

Weatherford International Price Performance

WFRD traded down $3.01 during trading on Friday, reaching $117.67. 805,118 shares of the stock were exchanged, compared to its average volume of 825,706. The business's 50 day moving average price is $109.54 and its two-hundred day moving average price is $98.84. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 20.83 and a beta of 0.73. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $127.45.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Weatherford International plc will post 6.74 earnings per share for the current year.

About Weatherford International

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.