Moody National Bank Trust Division Cuts Holdings in Weatherford International plc (NASDAQ:WFRD)

Moody National Bank Trust Division lowered its holdings in Weatherford International plc (NASDAQ:WFRD – Get Rating) by 57.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 40,222 shares during the quarter. Moody National Bank Trust Division’s holdings in Weatherford International were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Weatherford International by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,987,394 shares of the company’s stock valued at $128,753,000 after acquiring an additional 107,069 shares during the period. Mason Capital Management LLC lifted its stake in Weatherford International by 27.8% during the 3rd quarter. Mason Capital Management LLC now owns 1,730,228 shares of the company’s stock valued at $55,869,000 after acquiring an additional 376,228 shares during the period. State Street Corp lifted its stake in Weatherford International by 9.7% during the 3rd quarter. State Street Corp now owns 1,724,230 shares of the company’s stock valued at $55,675,000 after acquiring an additional 152,485 shares during the period. BlackRock Inc. lifted its stake in Weatherford International by 1.7% during the 1st quarter. BlackRock Inc. now owns 1,182,007 shares of the company’s stock valued at $39,361,000 after acquiring an additional 19,287 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Weatherford International by 5.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,019,967 shares of the company’s stock valued at $32,935,000 after acquiring an additional 55,415 shares during the period. 95.24% of the stock is owned by institutional investors.

Weatherford International Stock Performance

Weatherford International stock traded down $2.73 during midday trading on Friday, hitting $51.83. The stock had a trading volume of 1,853,922 shares, compared to its average volume of 850,735. The firm’s fifty day moving average is $59.84 and its two-hundred day moving average is $46.23. The company has a market capitalization of $3.67 billion, a PE ratio of 161.97 and a beta of 0.92. Weatherford International plc has a 52-week low of $16.96 and a 52-week high of $70.18. The company has a current ratio of 2.07, a quick ratio of 1.60 and a debt-to-equity ratio of 4.00.

Weatherford International (NASDAQ:WFRD – Get Rating) last released its earnings results on Tuesday, February 7th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.28. The company had revenue of $1.21 billion during the quarter. Weatherford International had a net margin of 0.60% and a return on equity of 12.78%. On average, research analysts forecast that Weatherford International plc will post 3.99 EPS for the current year.

Wall Street Analyst Weigh In

WFRD has been the topic of several research analyst reports. Benchmark initiated coverage on shares of Weatherford International in a research note on Thursday, February 16th. They set a “buy” rating and a $88.00 target price on the stock. Piper Sandler upped their price target on shares of Weatherford International from $70.00 to $93.00 in a research report on Thursday, February 9th. The Goldman Sachs Group upped their price target on shares of Weatherford International from $53.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Weatherford International from $54.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $77.40.

Insider Buying and Selling

In other Weatherford International news, EVP Joseph H. Mongrain sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $66.83, for a total value of $1,002,450.00. Following the completion of the transaction, the executive vice president now directly owns 33,868 shares in the company, valued at approximately $2,263,398.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Scott C. Weatherholt sold 39,365 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $66.30, for a total transaction of $2,609,899.50. Following the completion of the transaction, the executive vice president now directly owns 158,000 shares in the company, valued at approximately $10,475,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph H. Mongrain sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $66.83, for a total value of $1,002,450.00. Following the transaction, the executive vice president now owns 33,868 shares of the company’s stock, valued at $2,263,398.44. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Weatherford International Profile

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Weatherford International plc engages in the provision of equipment and services to the oil and natural gas exploration and production industry. It operates through following segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC) and Production and Intervention (PRI). The DRE segment offers managed pressure drilling, drilling services, wire line, and drilling fluids.