Weatherford International PLC $WFRD Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in Weatherford International PLC (NASDAQ:WFRD) by 50.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,556 shares of the company’s stock after selling 48,914 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Weatherford International were worth $3,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Frontier Capital Management Co. LLC raised its holdings in shares of Weatherford International by 110.8% during the second quarter. Frontier Capital Management Co. LLC now owns 708,180 shares of the company’s stock worth $35,629,000 after purchasing an additional 372,192 shares during the period. Deprince Race & Zollo Inc. bought a new position in Weatherford International in the 3rd quarter worth approximately $20,725,000. Atlantic Investment Management Inc. increased its holdings in shares of Weatherford International by 13.0% during the second quarter. Atlantic Investment Management Inc. now owns 647,274 shares of the company’s stock valued at $32,564,000 after purchasing an additional 74,465 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in Weatherford International during the 2nd quarter valued at about $2,019,000. Finally, Stephens Inc. AR raised its holdings in Weatherford International by 188.1% during the third quarter. Stephens Inc. AR now owns 11,944 shares of the company’s stock worth $817,000 after purchasing an additional 7,798 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Price Performance

NASDAQ WFRD opened at $91.78 on Tuesday. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $93.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 2.07. The business has a 50 day simple moving average of $80.15 and a 200 day simple moving average of $69.24. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 16.42 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WFRD. Citigroup upped their price target on Weatherford International from $77.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Barclays lowered their price target on Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group initiated coverage on shares of Weatherford International in a report on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Weatherford International in a research report on Friday, October 10th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.