Nicholas Investment Partners LP lifted its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,695 shares of the company's stock after purchasing an additional 50,769 shares during the period. Weatherford International comprises 1.4% of Nicholas Investment Partners LP's portfolio, making the stock its 13th largest position. Nicholas Investment Partners LP owned 0.17% of Weatherford International worth $12,003,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in WFRD. McGlone Suttner Wealth Management Inc. bought a new position in Weatherford International during the 4th quarter valued at $27,000. Huntington National Bank bought a new stake in Weatherford International in the third quarter valued at about $30,000. CWM LLC raised its stake in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company's stock valued at $31,000 after buying an additional 185 shares in the last quarter. NBC Securities Inc. acquired a new stake in Weatherford International during the third quarter valued at approximately $37,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Weatherford International during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 97.23% of the company's stock.
Weatherford International Price Performance
Shares of Weatherford International stock traded up $0.64 on Wednesday, hitting $125.10. The company had a trading volume of 421,009 shares, compared to its average volume of 805,433. Weatherford International plc has a 52 week low of $55.81 and a 52 week high of $129.70. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $9.15 billion, a PE ratio of 19.89, a PEG ratio of 0.88 and a beta of 0.71. The business has a 50-day simple moving average of $118.41 and a 200-day simple moving average of $103.34.
Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company posted $0.97 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. Research analysts expect that Weatherford International plc will post 6.94 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Weatherford International from $180.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, April 25th. Barclays increased their target price on Weatherford International from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. Raymond James boosted their price target 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. TheStreet raised shares of Weatherford International from a "c" rating to a "b" rating in a report on Monday, March 11th. Finally, Bank of America boosted their target price on shares of Weatherford International from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, April 29th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Weatherford International presently has a consensus rating of "Buy" and a consensus price target of $146.11.
Get Our Latest Report on WFRD
Insider Buying and Selling
In other news, Director Charles M. Sledge sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 25th. The shares were 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 owns 32,729 shares in the company, valued at approximately $4,041,049.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction 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 sale, the director now owns 32,729 shares in the company, valued at approximately $4,041,049.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the firm'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 sale, the chief executive officer now directly owns 146,895 shares of the company's stock, valued at $15,213,915.15. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Weatherford International Profile
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Free Report)
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.
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