Lisanti Capital Growth LLC Lowers Stock Position in Weatherford International plc (NASDAQ:WFRD)

Lisanti Capital Growth LLC trimmed its position in shares of Weatherford International plc (NASDAQ:WFRD) by 64.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,025 shares of the company’s stock after selling 98,875 shares during the period. Weatherford International makes up about 1.2% of Lisanti Capital Growth LLC’s holdings, making the stock its 23rd biggest holding. Lisanti Capital Growth LLC owned 0.07% of Weatherford International worth $5,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have 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 3rd quarter valued at about $114,430,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Weatherford International by 1,261.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 381,100 shares of the company’s stock worth $34,425,000 after buying an additional 353,100 shares during the period. Acadian Asset Management LLC increased its position in shares of Weatherford International by 101.1% in the third quarter. Acadian Asset Management LLC now owns 656,738 shares of the company’s stock worth $59,309,000 after acquiring an additional 330,133 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Weatherford International by 1,564.7% in the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock valued at $25,398,000 after acquiring an additional 264,284 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Weatherford International by 28.0% during the 3rd quarter. Jennison Associates LLC now owns 1,092,771 shares of the company’s stock valued at $98,710,000 after acquiring an additional 238,806 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Wednesday, April 24th. Piper Sandler boosted their price target on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Evercore ISI boosted their target price on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Bank of America raised their price target on shares of Weatherford International from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, April 29th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $145.00.

Weatherford International Stock Performance

WFRD traded up $1.99 during trading hours on Monday, hitting $124.59. 598,546 shares of the stock were exchanged, compared to its average volume of 828,821. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. The stock has a 50-day simple moving average of $115.81 and a 200-day simple moving average of $101.83. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37. Weatherford International plc has a 12 month low of $55.81 and a 12 month high of $129.70.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Weatherford International plc will post 6.94 earnings per share for the current year.

Insider Transactions at Weatherford International

In related news, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly 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 ninety days, insiders have sold 145,455 shares of company stock worth $14,863,464. 2.20% of the stock is currently owned by company insiders.

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.