Jennison Associates LLC Has $125.68 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

Jennison Associates LLC boosted its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 17.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,284,626 shares of the company’s stock after buying an additional 191,855 shares during the period. Jennison Associates LLC owned approximately 1.78% of Weatherford International worth $125,675,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WFRD. AE Wealth Management LLC acquired a new stake in Weatherford International during the 3rd quarter worth approximately $243,000. SG Americas Securities LLC grew its stake in shares of Weatherford International by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 6,385 shares of the company’s stock worth $577,000 after acquiring an additional 1,487 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Weatherford International during the 3rd quarter worth approximately $773,000. Measured Wealth Private Client Group LLC bought a new position in shares of Weatherford International during the 3rd quarter worth approximately $297,000. Finally, Bfsg LLC bought a new position in shares of Weatherford International during the 3rd quarter worth approximately $973,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at $12,365,629.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is currently owned by company insiders.

Weatherford International Stock Performance

Shares of WFRD stock opened at $115.10 on Tuesday. The business’s 50 day simple moving average is $111.93 and its 200 day simple moving average is $99.95. Weatherford International plc has a one year low of $55.81 and a one year high of $127.45. The stock has a market capitalization of $8.32 billion, a PE ratio of 20.37, a PEG ratio of 0.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFRD. Piper Sandler raised their price target on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Barclays assumed coverage on Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 target price for the company. Benchmark lifted their target price on Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Raymond James lifted their target price on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $131.00.

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.