Weatherford International plc (NASDAQ:WFRD) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 4.4% in the 4th quarter, Holdings Channel reports. The fund owned 40,166 shares of the company’s stock after acquiring an additional 1,678 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Weatherford International were worth $3,929,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. bought a new position in shares of Weatherford International during the fourth quarter worth about $27,000. Huntington National Bank bought a new position in shares of Weatherford International during the third quarter worth about $30,000. CWM LLC lifted its position in shares of Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Weatherford International during the third quarter worth about $37,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Weatherford International during the third quarter worth about $37,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

NASDAQ WFRD opened at $127.97 on Friday. The stock has a market capitalization of $9.36 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.98 and a beta of 0.73. Weatherford International plc has a 1 year low of $55.81 and a 1 year high of $129.70. The business’s fifty day moving average is $113.86 and its two-hundred day moving average is $100.75. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $0.97 EPS. The company’s revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast that Weatherford International plc will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $97.58, for a total transaction of $1,170,960.00. Following the sale, the director now directly owns 24,801 shares of the company’s stock, valued at approximately $2,420,081.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $97.58, for a total transaction of $1,170,960.00. Following the transaction, the director now directly owns 24,801 shares in the company, valued at approximately $2,420,081.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction 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 a total of 145,455 shares of company stock valued at $14,863,464 in the last three months. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on WFRD. Evercore ISI raised their target price on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Bank of America raised their target price on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday. Finally, Piper Sandler raised 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. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $136.89.

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.