Allspring Global Investments Holdings LLC Acquires 14,112 Shares of Weatherford International plc (NASDAQ:WFRD)

Allspring Global Investments Holdings LLC grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 669.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,221 shares of the company’s stock after acquiring an additional 14,112 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Weatherford International were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. purchased a new stake in Weatherford International in the fourth quarter worth about $27,000. Parallel Advisors LLC increased its holdings in Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the period. CWM LLC lifted its holdings in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Weatherford International in the first quarter worth approximately $34,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Up 2.3 %

Shares of NASDAQ:WFRD opened at $124.53 on Wednesday. The firm has a market capitalization of $9.11 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.88 and a beta of 0.64. The business has a 50 day simple moving average of $119.64 and a two-hundred day simple moving average of $109.65. Weatherford International plc has a 1 year low of $63.41 and a 1 year high of $129.70. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.97 EPS. Weatherford International’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Weatherford International plc will post 6.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles M. Sledge sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Raymond James lifted their target price on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Bank of America upped their price target on Weatherford International from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Piper Sandler lifted their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $151.88.

Weatherford International Company 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.