Meeder Asset Management Inc. Purchases 6,900 Shares of Weatherford International PLC $WFRD

Meeder Asset Management Inc. increased its position in shares of Weatherford International PLC (NASDAQ:WFRD) by 267.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,477 shares of the company’s stock after buying an additional 6,900 shares during the quarter. Meeder Asset Management Inc.’s holdings in Weatherford International were worth $896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Weatherford International during the 4th quarter worth approximately $26,000. Leonteq Securities AG acquired a new stake in shares of Weatherford International in the fourth quarter valued at approximately $39,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 253 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Weatherford International in the first quarter worth $53,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on WFRD shares. UBS Group increased their target price on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Barclays cut their price target on shares of Weatherford International from $156.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler raised their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.78.

Weatherford International Trading Down 3.1%

NASDAQ WFRD opened at $78.20 on Tuesday. The company has a market cap of $5.61 billion, a PE ratio of 12.24, a PEG ratio of 0.93 and a beta of 0.86. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83. Weatherford International PLC has a 12 month low of $52.70 and a 12 month high of $113.15. The stock has a 50 day moving average of $95.05 and a 200-day moving average of $95.76.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that Weatherford International PLC will post 5.94 EPS for the current fiscal year.

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.