Weatherford International plc (NASDAQ:WFRD) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP boosted its position in Weatherford International plc (NASDAQ:WFRD) by 79.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,985 shares of the company’s stock after purchasing an additional 5,315 shares during the period. Entropy Technologies LP’s holdings in Weatherford International were worth $1,383,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Weatherford International by 1.6% in the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after purchasing an additional 120,401 shares during the period. Boston Partners lifted its position in shares of Weatherford International by 3.5% during the 4th quarter. Boston Partners now owns 2,282,581 shares of the company’s stock valued at $223,127,000 after acquiring an additional 76,872 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Weatherford International by 17.6% during the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after acquiring an additional 191,855 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Weatherford International by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,124,495 shares of the company’s stock valued at $110,013,000 after acquiring an additional 126,482 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Weatherford International during the 4th quarter valued at $89,762,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFRD has been the subject of a number of recent research reports. Bank of America increased their price objective on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI increased their target price on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Citigroup assumed coverage on Weatherford International in a report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 target price for the company. Barclays increased their target price on Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Piper Sandler increased their target price on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $152.50.

Weatherford International Stock Up 1.0 %

Weatherford International stock traded up $1.24 during mid-day trading on Thursday, hitting $129.79. 33,742 shares of the company’s stock were exchanged, compared to its average volume of 841,341. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The stock has a market cap of $9.49 billion, a P/E ratio of 20.77, a P/E/G ratio of 0.92 and a beta of 0.64. Weatherford International plc has a 1-year low of $72.57 and a 1-year high of $135.00. The stock has a 50 day moving average of $120.09 and a two-hundred day moving average of $111.78.

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

Insider Buying and Selling at Weatherford International

In related news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the sale, the director now owns 32,729 shares in the company, valued at $4,041,049.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

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.