Weatherford International Plc (WFT) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. decreased its stake in Weatherford International Plc (NYSE:WFT) by 34.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 16,822 shares of the oil and gas company’s stock after selling 8,993 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Weatherford International Plc were worth $112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WFT. Korea Investment CORP purchased a new stake in shares of Weatherford International Plc during the first quarter valued at $6,015,000. BlackRock Investment Management LLC boosted its stake in shares of Weatherford International Plc by 3.2% in the third quarter. BlackRock Investment Management LLC now owns 820,286 shares of the oil and gas company’s stock valued at $4,610,000 after buying an additional 25,736 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Weatherford International Plc by 409.0% in the fourth quarter. AQR Capital Management LLC now owns 129,297 shares of the oil and gas company’s stock valued at $645,000 after buying an additional 103,897 shares in the last quarter. Dodge & Cox purchased a new stake in shares of Weatherford International Plc during the fourth quarter valued at $416,023,000. Finally, Comerica Bank boosted its stake in shares of Weatherford International Plc by 61.7% in the fourth quarter. Comerica Bank now owns 988,806 shares of the oil and gas company’s stock valued at $5,201,000 after buying an additional 377,371 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Weatherford International Plc (NYSE:WFT)

Shares of Weatherford International Plc (NYSE:WFT) traded up 3.56% on Friday, hitting $5.23. 20,906,884 shares of the stock were exchanged. Weatherford International Plc has a 1-year low of $3.73 and a 1-year high of $7.09. The stock’s 50-day moving average is $5.73 and its 200-day moving average is $5.53. The stock’s market cap is $5.16 billion.

Weatherford International Plc (NYSE:WFT) last released its quarterly earnings data on Friday, April 28th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Weatherford International Plc had a negative return on equity of 30.56% and a negative net margin of 59.00%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) EPS. Analysts forecast that Weatherford International Plc will post ($0.97) earnings per share for the current year.

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WFT has been the topic of several research analyst reports. Vetr raised shares of Weatherford International Plc from a “buy” rating to a “strong-buy” rating and set a $7.02 price objective on the stock in a research note on Tuesday, March 14th. Tudor Pickering initiated coverage on shares of Weatherford International Plc in a research note on Thursday, March 23rd. They set a “buy” rating on the stock. Wells Fargo & Co reissued a “market perform” rating and set a $7.00 price target on shares of Weatherford International Plc in a research note on Wednesday, March 8th. Jefferies Group LLC cut shares of Weatherford International Plc from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a research note on Friday, January 27th. Finally, Loop Capital raised shares of Weatherford International Plc from a “hold” rating to a “buy” rating and increased their price target for the company from $7.00 to $8.00 in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $7.30.

In other news, VP Douglas M. Mills sold 17,500 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $5.19, for a total value of $90,825.00. Following the completion of the sale, the vice president now owns 296,625 shares in the company, valued at $1,539,483.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 14,395 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $5.58, for a total transaction of $80,324.10. Following the completion of the sale, the vice president now owns 318,520 shares of the company’s stock, valued at approximately $1,777,341.60. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Weatherford International Plc Company Profile

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

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