Yacktman Asset Management LP Sells 842,500 Shares of Weatherford International plc (NASDAQ:WFRD)

Yacktman Asset Management LP decreased its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 37.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,384,500 shares of the company’s stock after selling 842,500 shares during the quarter. Yacktman Asset Management LP’s holdings in Weatherford International were worth $135,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International during the fourth quarter valued at $27,000. CWM LLC grew its holdings in Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the period. Huntington National Bank bought a new position in shares of Weatherford International during the third quarter valued at approximately $30,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Weatherford International during the third quarter valued at approximately $37,000. Finally, NBC Securities Inc. bought a new stake in shares of Weatherford International in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the subject of a number of recent research reports. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday. Barclays lifted their target price on shares of Weatherford International from $135.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI raised their price target on shares of Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Piper Sandler upped their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $136.89.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $4.60 during trading hours on Friday, reaching $128.25. The company had a trading volume of 682,753 shares, compared to its average volume of 827,772. The firm’s 50 day moving average price is $113.33 and its 200-day moving average price is $100.50. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 0.99 and a beta of 0.73. 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 52 week low of $55.81 and a 52 week high of $129.70.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The company 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%. Weatherford International’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, analysts forecast that Weatherford International plc will post 6.73 EPS for the current year.

Insider Transactions at Weatherford International

In other news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction of $1,163,760.00. Following the transaction, the director now owns 12,801 shares in the company, valued at approximately $1,241,440.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the sale, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock worth $13,628,764 in the last quarter. Company insiders own 2.20% 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.