Los Angeles Capital Management LLC decreased its stake in shares of Weatherford International plc (NASDAQ:WFRD – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,586 shares of the company’s stock after selling 777 shares during the period. Los Angeles Capital Management LLC’s holdings in Weatherford International were worth $925,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of WFRD. JPMorgan Chase & Co. boosted its position in Weatherford International by 205.1% in the first quarter. JPMorgan Chase & Co. now owns 139,569 shares of the company’s stock worth $4,647,000 after purchasing an additional 93,829 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Weatherford International by 8.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,198 shares of the company’s stock worth $406,000 after purchasing an additional 958 shares during the last quarter. Citigroup Inc. boosted its position in Weatherford International by 2,131.7% in the first quarter. Citigroup Inc. now owns 28,856 shares of the company’s stock worth $961,000 after purchasing an additional 27,563 shares during the last quarter. BlackRock Inc. boosted its position in Weatherford International by 1.7% in the first quarter. BlackRock Inc. now owns 1,182,007 shares of the company’s stock worth $39,361,000 after purchasing an additional 19,287 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Weatherford International by 69.0% in the first quarter. Dimensional Fund Advisors LP now owns 476,799 shares of the company’s stock worth $15,873,000 after purchasing an additional 194,685 shares during the last quarter. Hedge funds and other institutional investors own 97.39% of the company’s stock.
Insider Activity at Weatherford International
In related news, CEO Girish Saligram sold 50,750 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.34, for a total transaction of $3,011,505.00. Following the sale, the chief executive officer now directly owns 894,909 shares in the company, valued at approximately $53,103,900.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Weatherford International news, CAO Desmond J. Mills sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $57.42, for a total value of $861,300.00. Following the transaction, the chief accounting officer now directly owns 26,761 shares in the company, valued at approximately $1,536,616.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Girish Saligram sold 50,750 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $59.34, for a total value of $3,011,505.00. Following the completion of the transaction, the chief executive officer now owns 894,909 shares in the company, valued at $53,103,900.06. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Weatherford International Stock Performance
Wall Street Analyst Weigh In
WFRD has been the topic of several research analyst reports. Raymond James boosted their price objective on Weatherford International from $100.00 to $110.00 in a research report on Friday, July 28th. Capital One Financial assumed coverage on Weatherford International in a research note on Wednesday, June 7th. They issued an “overweight” rating and a $100.00 target price on the stock. Piper Sandler boosted their target price on Weatherford International from $101.00 to $116.00 in a research note on Thursday, July 27th. The Goldman Sachs Group boosted their target price on Weatherford International from $82.00 to $101.00 and gave the company a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Weatherford International from $77.00 to $82.00 in a research note on Thursday, April 27th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $92.86.
Weatherford International 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.
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