Weatherford International (NASDAQ:WFRD) Hits New 52-Week Low After Insider Selling

Shares of Weatherford International plc (NASDAQ:WFRD) reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $61.46 and last traded at $60.59, with a volume of 1493 shares trading hands. The stock had previously closed at $62.95.

Specifically, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several research firms recently issued reports on WFRD. Barclays dropped their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Evercore ISI dropped their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America decreased their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Piper Sandler initiated coverage on shares of Weatherford International in a research report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 target price for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Weatherford International Trading Up 1.4 %

The stock’s 50 day simple moving average is $73.01 and its 200 day simple moving average is $87.67. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The firm has a market cap of $4.64 billion, a PE ratio of 8.97, a PEG ratio of 1.35 and a beta of 0.61.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WFRD. Virtu Financial LLC purchased a new stake in Weatherford International during the 3rd quarter valued at about $571,000. Barclays PLC raised its holdings in shares of Weatherford International by 59.4% during the 3rd quarter. Barclays PLC now owns 31,349 shares of the company’s stock worth $2,663,000 after acquiring an additional 11,680 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Weatherford International by 1,138.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after purchasing an additional 29,530 shares during the period. New York State Common Retirement Fund grew its position in shares of Weatherford International by 6.8% during the 3rd quarter. New York State Common Retirement Fund now owns 203,106 shares of the company’s stock worth $17,248,000 after buying an additional 13,007 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Weatherford International by 67.3% during the third quarter. Point72 Asset Management L.P. now owns 143,900 shares of the company’s stock valued at $12,220,000 after purchasing an additional 57,866 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

About Weatherford International

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.