Weatherford International plc (NASDAQ:WFRD) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,284,626 shares of the company's stock after acquiring an additional 191,855 shares during the quarter. Jennison Associates LLC owned about 1.78% of Weatherford International worth $125,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WFRD. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Weatherford International during the fourth quarter worth $27,000. Huntington National Bank bought a new position in shares of Weatherford International in the 3rd quarter valued at $30,000. CWM LLC grew its position in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company's stock worth $31,000 after acquiring an additional 185 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Weatherford International in the 3rd quarter valued at about $37,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Weatherford International in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Stock Performance

WFRD stock traded up $2.99 during midday trading on Tuesday, hitting $118.09. The company's stock had a trading volume of 1,030,886 shares, compared to its average volume of 820,336. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $127.45. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.89 and a beta of 0.73. The stock's 50-day moving average price is $111.93 and its 200 day moving average price is $99.95.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Weatherford International plc will post 6.73 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFRD. TheStreet upgraded Weatherford International from a "c" rating to a "b" rating in a research report 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 company a "buy" rating in a report on Monday, April 15th. Barclays started coverage on shares of Weatherford International in a report on Wednesday, February 28th. They set an "overweight" rating and a $135.00 price objective on the stock. Piper Sandler boosted their target price on shares of Weatherford International from $138.00 to $180.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, Raymond James boosted their target price on shares of Weatherford International from $134.00 to $152.00 and gave the company a "strong-buy" rating in a report on Tuesday, April 16th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $131.00.

Insider Activity at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares of the company's stock, valued at approximately $1,241,440.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares in the company, valued at $1,241,440.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at $1,785,406.44. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock valued at $13,628,764 in the last ninety days. Corporate 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.