Scott C. Weatherholt Sells 44,505 Shares of Weatherford International plc (NASDAQ:WFRD) Stock

Weatherford International plc (NASDAQ:WFRD - Get Free Report) EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $1.16 during trading hours on Tuesday, reaching $65.00. 1,991,650 shares of the stock traded hands, compared to its average volume of 1,197,309. The company's 50-day simple moving average is $72.68 and its two-hundred day simple moving average is $87.21. The company has a market capitalization of $4.72 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61. Weatherford International plc has a 52-week low of $60.45 and a 52-week high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Weatherford International during the 3rd quarter valued at $571,000. Barclays PLC boosted its position in Weatherford International by 59.4% during the third quarter. Barclays PLC now owns 31,349 shares of the company's stock valued at $2,663,000 after buying an additional 11,680 shares during the period. Dynamic Technology Lab Private Ltd grew its stake in shares of Weatherford International by 1,138.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company's stock valued at $2,728,000 after buying an additional 29,530 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Weatherford International by 6.8% in the third quarter. New York State Common Retirement Fund now owns 203,106 shares of the company's stock worth $17,248,000 after buying an additional 13,007 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Weatherford International by 67.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 143,900 shares of the company's stock valued at $12,220,000 after acquiring an additional 57,866 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Bank of America decreased their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Evercore ISI dropped their price target on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Piper Sandler assumed coverage on shares of Weatherford International in a research report on Thursday, December 19th. They issued a "neutral" rating and a $87.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a "buy" rating to a "neutral" rating and lowered their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $121.25.

About Weatherford International

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.