Weatherford International PLC $WFRD Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,024 shares of the company’s stock after selling 7,462 shares during the quarter. New York State Teachers Retirement System’s holdings in Weatherford International were worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. IFP Advisors Inc boosted its holdings in shares of Weatherford International by 14.2% in the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $75,000 after buying an additional 187 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Weatherford International by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 33,245 shares of the company’s stock worth $1,673,000 after acquiring an additional 225 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Weatherford International by 69.8% in the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after acquiring an additional 240 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Weatherford International by 1.2% during the second quarter. Public Employees Retirement System of Ohio now owns 22,933 shares of the company’s stock worth $1,154,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Price Performance

Weatherford International stock opened at $83.74 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The business has a 50 day simple moving average of $78.44 and a 200-day simple moving average of $67.68. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $91.23. The stock has a market capitalization of $6.01 billion, a PE ratio of 15.17 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the business earned $2.06 earnings per share. Equities analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $77.25, for a total transaction of $164,465.25. Following the transaction, the executive vice president directly owned 15,673 shares in the company, valued at $1,210,739.25. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WFRD shares. UBS Group started coverage on Weatherford International in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Weatherford International in a research report on Friday, October 10th. They set an “outperform” rating and a $82.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Citigroup increased their price target on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.70.

Weatherford International Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.