Allspring Global Investments Holdings LLC bought a new stake in Weatherford International plc (NASDAQ:WFRD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,379 shares of the company’s stock, valued at approximately $109,000.
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Several other institutional investors and hedge funds also recently made changes to their positions in WFRD. Geneos Wealth Management Inc. purchased a new stake in shares of Weatherford International in the first quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Weatherford International in the second quarter valued at about $25,000. Spartan Fund Management Inc. purchased a new stake in shares of Weatherford International in the second quarter valued at about $148,000. UBS Group AG raised its holdings in shares of Weatherford International by 83.6% in the first quarter. UBS Group AG now owns 5,985 shares of the company’s stock valued at $199,000 after purchasing an additional 2,725 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Weatherford International in the first quarter valued at about $207,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.
Weatherford International Stock Performance
NASDAQ WFRD opened at $55.73 on Friday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.69 and a current ratio of 2.21. The company has a market capitalization of $3.94 billion, a PE ratio of -18.76 and a beta of 0.98. Weatherford International plc has a 52-week low of $16.96 and a 52-week high of $57.92. The company has a 50-day simple moving average of $48.30 and a 200 day simple moving average of $36.70.
Analyst Upgrades and Downgrades
WFRD has been the subject of several analyst reports. Piper Sandler increased their target price on shares of Weatherford International from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, November 18th. The Goldman Sachs Group raised their price objective on shares of Weatherford International from $38.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Weatherford International from $49.00 to $54.00 in a report on Thursday, October 27th.
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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.
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