Oakworth Capital Inc. Buys 2,081 Shares of Weatherford International plc (NASDAQ:WFRD)

Oakworth Capital Inc. raised its stake in Weatherford International plc (NASDAQ:WFRD) by 114.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,899 shares of the company’s stock after buying an additional 2,081 shares during the period. Oakworth Capital Inc.’s holdings in Weatherford International were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Weatherford International by 36.7% in the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after purchasing an additional 959,783 shares during the period. State Street Corp lifted its stake in shares of Weatherford International by 3.1% in the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company’s stock valued at $192,555,000 after purchasing an additional 68,553 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Weatherford International by 551.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after purchasing an additional 1,219,553 shares during the period. Jennison Associates LLC lifted its stake in shares of Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Weatherford International by 63.3% in the 3rd quarter. Franklin Resources Inc. now owns 461,790 shares of the company’s stock valued at $43,007,000 after purchasing an additional 179,064 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD opened at $65.25 on Thursday. 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 stock has a 50 day moving average price of $72.33 and a two-hundred day moving average price of $87.06. The firm has a market capitalization of $4.74 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.35 and a beta of 0.61. Weatherford International plc has a 52 week low of $60.45 and a 52 week high of $135.00.

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

Insiders Place Their Bets

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Barclays dropped their price target on Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Bank of America dropped their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler started coverage on Weatherford International in a research note on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target on the stock. Two research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.25.

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.