Nisa Investment Advisors LLC Reduces Stock Position in Weatherford International plc (NASDAQ:WFRD)

Nisa Investment Advisors LLC reduced its position in shares of Weatherford International plc (NASDAQ:WFRD) by 39.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,661 shares of the company’s stock after selling 1,095 shares during the period. Nisa Investment Advisors LLC’s holdings in Weatherford International were worth $119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFRD. Farther Finance Advisors LLC raised its holdings in Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC purchased a new position in shares of Weatherford International during the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp acquired a new stake in Weatherford International in the 3rd quarter valued at approximately $42,000. GAMMA Investing LLC raised its position in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after purchasing an additional 141 shares during the period. Finally, Park Place Capital Corp lifted its stake in Weatherford International by 1,516.2% during the third quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

WFRD has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Thursday, October 24th. Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays lowered their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Piper Sandler started coverage on shares of Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 target price on the stock. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $121.25.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the sale, the executive vice president now owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Weatherford International Price Performance

Shares of WFRD opened at $64.61 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm’s fifty day simple moving average is $73.88 and its 200-day simple moving average is $89.22. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.52 and a beta of 0.64. Weatherford International plc has a twelve month low of $63.71 and a twelve month high of $135.00.

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.