Louisiana State Employees Retirement System Takes Position in Weatherford International plc (NASDAQ:WFRD)

Louisiana State Employees Retirement System purchased a new position in shares of Weatherford International plc (NASDAQ:WFRD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,300 shares of the company’s stock, valued at approximately $1,986,000.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Weatherford International during the 1st quarter worth approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Weatherford International during the 2nd quarter worth approximately $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International during the 4th quarter worth approximately $27,000. Quarry LP purchased a new stake in shares of Weatherford International during the 1st quarter worth approximately $28,000. Finally, Huntington National Bank purchased a new stake in shares of Weatherford International during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Down 2.9 %

Shares of NASDAQ:WFRD opened at $110.41 on Thursday. The firm has a fifty day moving average price of $111.01 and a two-hundred day moving average price of $99.33. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. Weatherford International plc has a one year low of $55.81 and a one year high of $127.45. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.90 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, beating 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 the consensus estimate of $1.34 billion. During the same period last year, the firm earned $1.12 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Weatherford International plc will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their price target 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. 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 lifted their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday. Barclays initiated coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price objective for the company. Finally, Raymond James lifted their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.00.

Insider Transactions at Weatherford International

In other news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction 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 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. In the last ninety days, insiders sold 135,455 shares of company stock valued at $13,628,764. Insiders own 2.20% of the company’s stock.

About Weatherford International

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.