Federated Hermes Inc. Has $43.75 Million Position in Weatherford International plc (NASDAQ:WFRD)

Federated Hermes Inc. lowered its position in Weatherford International plc (NASDAQ:WFRD - Free Report) by 21.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,149 shares of the company's stock after selling 125,647 shares during the quarter. Federated Hermes Inc. owned 0.62% of Weatherford International worth $43,745,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Weatherford International in the 1st quarter valued at about $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Weatherford International in the 2nd quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Weatherford International in the 4th quarter valued at about $27,000. Quarry LP acquired a new stake in shares of Weatherford International in the 1st quarter valued at about $28,000. Finally, Huntington National Bank acquired a new stake in shares of Weatherford International in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Performance

NASDAQ WFRD traded up $1.86 on Friday, hitting $112.79. The stock had a trading volume of 811,633 shares, compared to its average volume of 657,722. Weatherford International plc has a one year low of $55.81 and a one year high of $127.45. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 0.88 and a beta of 0.73. The company's 50-day moving average is $111.58 and its two-hundred day moving average is $99.63.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. Weatherford International's quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Weatherford International plc will post 6.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

WFRD has been the topic of several research reports. Benchmark increased their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. TheStreet upgraded shares of Weatherford International from a "c" rating to a "b" rating in a research note on Monday, March 11th. Bank of America increased their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Raymond James increased their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. Finally, Piper Sandler increased their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $131.00.

Insiders Place Their Bets

In other news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction that occurred 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 directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction that occurred 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 directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares of the company's stock, valued at $1,241,440.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,455 shares of company stock worth $13,628,764. Insiders own 2.20% 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.