Parkside Financial Bank & Trust Acquires 166 Shares of Weatherford International plc (NASDAQ:WFRD)

Parkside Financial Bank & Trust raised its stake in Weatherford International plc (NASDAQ:WFRD) by 29.6% during the fourth quarter, HoldingsChannel reports. The fund owned 726 shares of the company’s stock after buying an additional 166 shares during the period. Parkside Financial Bank & Trust’s holdings in Weatherford International were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WFRD. AE Wealth Management LLC purchased a new stake in shares of Weatherford International in the third quarter worth $243,000. SG Americas Securities LLC lifted its holdings in shares of Weatherford International by 30.4% during the third quarter. SG Americas Securities LLC now owns 6,385 shares of the company’s stock valued at $577,000 after purchasing an additional 1,487 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Weatherford International during the third quarter valued at $773,000. Measured Wealth Private Client Group LLC bought a new position in shares of Weatherford International during the third quarter valued at $297,000. Finally, Bfsg LLC bought a new position in shares of Weatherford International during the third quarter valued at $973,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Weatherford International

In other news, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares in the company, valued at approximately $1,241,440.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares in the company, valued at $1,241,440.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,455 shares of company stock worth $13,628,764. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a report on Monday, April 15th. Raymond James upped their price target on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Piper Sandler upped their price target on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday. Barclays initiated coverage on Weatherford International in a report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Weatherford International presently has an average rating of “Buy” and an average target price of $134.11.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $123.65 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. Weatherford International plc has a 12-month low of $55.81 and a 12-month high of $127.45. The stock has a 50-day moving average price of $113.33 and a 200 day moving average price of $100.50. The stock has a market capitalization of $8.94 billion, a P/E ratio of 20.01, a P/E/G ratio of 0.99 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Equities research analysts forecast that Weatherford International plc will post 6.73 EPS for the current fiscal year.

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.