Weatherford International plc (NASDAQ:WFRD) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its stake in Weatherford International plc (NASDAQ:WFRD) by 27.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,936 shares of the company’s stock after selling 84,952 shares during the period. Artemis Investment Management LLP owned approximately 0.30% of Weatherford International worth $25,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $27,000. Parallel Advisors LLC raised its position in Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares during the last quarter. CWM LLC grew its holdings in shares of Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of Weatherford International during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on WFRD. Barclays raised their price target on shares of Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Wednesday, April 24th. Citigroup began coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They issued a “buy” rating and a $155.00 price objective on the stock. Bank of America upped their target price 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. Finally, Evercore ISI boosted 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $151.88.

Weatherford International Stock Performance

Weatherford International stock opened at $122.45 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84. Weatherford International plc has a one year low of $63.41 and a one year high of $129.70. The stock’s 50 day moving average price is $119.38 and its 200 day moving average price is $108.85. The firm has a market capitalization of $8.96 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that Weatherford International plc will post 6.94 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other news, Director Charles M. Sledge sold 10,000 shares of Weatherford International stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the sale, the director now directly owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate 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.