Oakworth Capital Inc. Increases Holdings in Weatherford International plc (NASDAQ:WFRD)

Oakworth Capital Inc. increased its stake in Weatherford International plc (NASDAQ:WFRD) by 114.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,899 shares of the company’s stock after purchasing an additional 2,081 shares during the quarter. Oakworth Capital Inc.’s holdings in Weatherford International were worth $279,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in Weatherford International by 551.1% during the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares during the period. FMR LLC lifted its stake in Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after purchasing an additional 959,783 shares during the last quarter. Jennison Associates LLC lifted its stake in Weatherford International by 30.6% during the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock worth $112,443,000 after purchasing an additional 310,259 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Weatherford International by 402.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock worth $27,555,000 after purchasing an additional 259,924 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Weatherford International by 63.3% during the third quarter. Franklin Resources Inc. now owns 461,790 shares of the company’s stock worth $43,007,000 after purchasing an additional 179,064 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

WFRD stock opened at $65.25 on Thursday. The stock has a market capitalization of $4.74 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61. Weatherford International plc has a 12-month low of $60.45 and a 12-month high of $135.00. 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 stock’s 50 day simple moving average is $72.33 and its 200 day simple moving average is $87.06.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. As a group, research analysts forecast that Weatherford International plc will post 6.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFRD. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Citigroup decreased their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Barclays reduced their price target on Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Piper Sandler began coverage on Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target on the stock. Finally, Evercore ISI reduced their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.25.

Insider Activity at Weatherford International

In other news, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.