Panagora Asset Management Inc. Sells 27,289 Shares of Weatherford International plc (NASDAQ:WFRD)

Panagora Asset Management Inc. cut its holdings in Weatherford International plc (NASDAQ:WFRDFree Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,669 shares of the company’s stock after selling 27,289 shares during the period. Panagora Asset Management Inc.’s holdings in Weatherford International were worth $21,784,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WFRD. Vanguard Group Inc. increased its position in Weatherford International by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after buying an additional 120,401 shares during the period. Boston Partners raised its stake in Weatherford International by 3.5% during the 4th quarter. Boston Partners now owns 2,282,581 shares of the company’s stock valued at $223,127,000 after purchasing an additional 76,872 shares during the last quarter. American Century Companies Inc. boosted its holdings in Weatherford International by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock valued at $121,097,000 after purchasing an additional 65,935 shares during the period. Jennison Associates LLC grew its position in Weatherford International by 17.6% in the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock worth $125,675,000 after purchasing an additional 191,855 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in Weatherford International in the 3rd quarter worth $114,430,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Transactions at Weatherford International

In related news, CEO Girish Saligram sold 60,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles M. Sledge sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the transaction, the director now directly owns 32,729 shares in the company, valued at $4,041,049.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Weatherford International Stock Up 0.8 %

Shares of NASDAQ WFRD opened at $123.80 on Friday. Weatherford International plc has a 52-week low of $55.81 and a 52-week high of $129.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84. The business has a fifty day moving average of $119.38 and a two-hundred day moving average of $103.85. The stock has a market cap of $9.06 billion, a PE ratio of 20.03, a PEG ratio of 0.88 and a beta of 0.71.

Weatherford International (NASDAQ:WFRDGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. As a group, equities research analysts expect that Weatherford International plc will post 6.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WFRD shares. Barclays increased their target price on shares of Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Evercore ISI lifted their price objective on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Wednesday, April 24th. Bank of America raised their target price on Weatherford International from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Raymond James boosted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weatherford International has an average rating of “Buy” and a consensus target price of $146.11.

Get Our Latest Research Report on WFRD

Weatherford International Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding WFRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weatherford International plc (NASDAQ:WFRDFree Report).

Institutional Ownership by Quarter for Weatherford International (NASDAQ:WFRD)

Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.