Federated Hermes Inc. Sells 125,647 Shares of Weatherford International plc (NASDAQ:WFRD)

Federated Hermes Inc. reduced its position in shares of Weatherford International plc (NASDAQ:WFRD) by 21.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 447,149 shares of the company’s stock after selling 125,647 shares during the quarter. Federated Hermes Inc. owned about 0.62% of Weatherford International worth $43,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Weatherford International during the fourth quarter worth approximately $27,000. Huntington National Bank acquired a new position in shares of Weatherford International in the 3rd quarter valued at $30,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Weatherford International in the 3rd quarter valued at $37,000. NBC Securities Inc. bought a new position in shares of Weatherford International in the 3rd quarter worth $37,000. Finally, AllSquare Wealth Management LLC acquired a new stake in shares of Weatherford International during the third quarter worth $42,000. 97.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFRD has been the topic of several analyst reports. Piper Sandler increased their target price on Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Bank of America lifted their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Barclays started coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price target on the stock. Finally, Raymond James upped their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $131.00.

Insiders Place Their Bets

In other news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock valued at $13,628,764 in the last quarter. 2.20% of the stock is currently owned by insiders.

Weatherford International Trading Up 1.7 %

WFRD opened at $112.79 on Friday. The firm’s fifty day simple moving average is $111.58 and its 200 day simple moving average is $99.57. The stock has a market capitalization of $8.16 billion, a P/E ratio of 19.96, a P/E/G ratio of 0.88 and a beta of 0.73. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. Weatherford International plc has a 12 month low of $55.81 and a 12 month high of $127.45.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, research analysts anticipate that Weatherford International plc will post 6.73 EPS for the current fiscal year.

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.