Insider Selling: Weatherford International plc (NASDAQ:WFRD) EVP Sells 44,505 Shares of Stock

Weatherford International plc (NASDAQ:WFRD) EVP Scott C. Weatherholt sold 44,505 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were 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 approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Weatherford International Stock Down 2.6 %

Shares of WFRD opened at $62.95 on Monday. Weatherford International plc has a 12 month low of $61.97 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 moving average is $73.43 and its two-hundred day moving average is $88.14. The firm has a market cap of $4.57 billion, a P/E ratio of 8.84, a PEG ratio of 1.41 and a beta of 0.64.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFRD. Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Citigroup reduced their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Barclays decreased their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after purchasing an additional 281 shares during the period. nVerses Capital LLC acquired a new stake in Weatherford International during the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp acquired a new position in shares of Weatherford International during the third quarter worth about $42,000. R Squared Ltd purchased a new position in Weatherford International in the fourth quarter worth $36,000. Finally, GAMMA Investing LLC lifted its position in shares of Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.