State of Michigan Retirement System Has $2.05 Million Holdings in Weatherford International plc (NASDAQ:WFRD)

State of Michigan Retirement System raised its position in shares of Weatherford International plc (NASDAQ:WFRD) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,800 shares of the company’s stock after purchasing an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Weatherford International were worth $2,054,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Weatherford International in the fourth quarter worth $27,000. Parallel Advisors LLC raised its stake in shares of Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after acquiring an additional 189 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. CWM LLC boosted its position in Weatherford International by 145.7% during the fourth 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 position in Weatherford International during the first quarter valued at approximately $34,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Price Performance

Shares of WFRD stock opened at $125.53 on Friday. The stock has a 50 day moving average of $119.69 and a two-hundred day moving average of $109.87. 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 company has a market capitalization of $9.18 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.90 and a beta of 0.64. Weatherford International plc has a 12 month low of $63.41 and a 12 month high of $129.70.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.97 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Weatherford International plc will post 6.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Weatherford International from $135.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Citigroup assumed coverage on shares of Weatherford International in a report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target for the company. Piper Sandler lifted their price objective on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Evercore ISI increased their target price on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Bank of America lifted their price target on Weatherford International from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $151.88.

Insider Activity at Weatherford International

In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of Weatherford International stock in a transaction that occurred on 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 transaction 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.

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.