Weatherford International plc (NASDAQ:WFRD) EVP Sells $2,944,895.85 in Stock

Weatherford International plc (NASDAQ:WFRD) 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 approximately $8,272,507.23. The trade was a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Weatherford International Stock Performance

WFRD stock traded down $1.66 during trading hours on Friday, reaching $62.95. The stock had a trading volume of 1,601,910 shares, compared to its average volume of 1,126,005. The stock has a 50-day simple moving average of $73.88 and a 200 day simple moving average of $89.22. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The stock has a market capitalization of $4.57 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. Weatherford International plc has a fifty-two week low of $61.97 and a fifty-two week high of $135.00.

Analyst Upgrades and Downgrades

WFRD has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Evercore ISI lowered their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Piper Sandler began coverage on shares of Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective for the company. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their target price for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.25.

Institutional Trading of Weatherford International

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in shares of 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 in the last quarter. nVerses Capital LLC acquired a new position in Weatherford International during the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp acquired a new position in Weatherford International during the 3rd quarter worth approximately $42,000. R Squared Ltd acquired a new position in Weatherford International during the 4th quarter worth approximately $36,000. Finally, GAMMA Investing LLC increased its position in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

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.