Capital Research & Management Co has recently announced that it has increased stake in Weatherford International plc (NASDAQ:WFRD) by 26.64%. After grabbing 5.82 million shares, the institutional investor is now in possession of 1.23 million shares of the Energy Company. The new investment brought the stake of investor firm to 8.21% having worth around $387.94 million. Moreover, The Vanguard Group, Inc. increased its share by 1.8 million to have a control over 5.62 million shares. And BlackRock Fund Advisors raised its holdings to 0.48 million shares by acquiring 4.25 million shares or 6.00% of the stake.
Weatherford International plc (WFRD) concluded trading on 03/16/23 at a closing price of $54.56, with 1.28 million shares of worth about $69.97 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 65.18% during that period and on Thursday the price saw a gain of about 0.59%. Currently the company’s common shares owned by public are about 71.00M shares, out of which, 65.52M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the WFRD stock and their offered price forecasts bring an average price target of $82.60. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $93.00 and could fall to a lowest price of $76.00. The stock’s current price level is 30.23% above of average price target set by the analysts, while a rise to estimated low would result in gain of 28.21% for the stock. However, touching the estimated high of $93.00 would mean a gain of 41.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 1,658,539 shares in 19 of the transactions. In 21 selling transactions, insiders dumped 694,746 shares.
American Funds Growth Fund of Ame, Managers AMG Yacktman Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Weatherford International plc American Funds Growth Fund of Ame is currently holding 4.55 million shares of worth totaling $303.34 million. The company recently came buying 0.0 shares which brought its stake up to 6.42% of the company’s outstanding shares. Managers AMG Yacktman Fund sold -0.55 million shares, after which its hold over company’s outstanding shares shrunk to 4.73%, leaving 3.35 million shares with the mutual fund that have a worth of about $223.18 million. Vanguard Total Stock Market Index, after buying 2.16 million shares, have now control over 3.05% of the stake in the company. It holds 3047.0 shares of worth $143.81 million.
Weatherford International plc (NASDAQ: WFRD) started trading at $52.39, below -$1.85 from concluding price of the previous day. However, the stock later moved at a day high price of 55.27, or with a gain of 0.59%. Stock saw a price change of -13.13% in past 5 days and over the past one month there was a price change of -17.63%. Year-to-date (YTD), WFRD shares are showing a performance of 7.15% which increased to 71.41% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.96 but also hit the highest price of $70.18 during that period. The average intraday trading volume for Weatherford International plc shares is 861.85K. The stock is currently trading -14.72% below its 20-day simple moving average (SMA20), while that difference is down -7.93% for SMA50 and it goes to 39.30% higher than SMA200.
Capital Research & Management Co acquired 5.82 million shares of Weatherford International plc having value of about $387.94 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.23 million shares in the company valued at close to $66839328.16, or have control over 26.64% stake in the company. Weatherford International plc (NASDAQ: WFRD) currently have 71.00M outstanding shares and institutions hold larger chunk of about 99.60% of that. Holding of mutual funds in the company is about 43.50% while other institutional holders and individual stake holders have control over 50.37% and 2.01% of the stake respectively.
The stock has a current market capitalization of $4.06B. PE ratio of stock for trailing 12 months is 189.44, while it has posted earnings per share of $0.29 in the same period. It has Quick Ratio of 1.60 while making debt-to-equity ratio of 4.20. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WFRD, volatility over the week remained 6.15% while standing at 4.73% over the month.
Analysts are in expectations that Weatherford International plc (WFRD) stock would likely to be making an EPS of $0.64 in the current quarter, while forecast for next quarter EPS is $0.83 and it is $3.86 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.46 which is $0.83 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 105.60% while it is estimated to increase by 35.53% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Weatherford International plc (WFRD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by The Benchmark Company on February 17, 2023 offering a Buy rating for the stock and assigned a target price of $88 to it. Coverage by Evercore ISI stated Weatherford International plc (WFRD) stock as an Outperform in their note to investors on September 06, 2022, suggesting a price target of $53 for the stock. On June 08, 2022, Goldman Initiated their recommendations, while on June 08, 2022, Deutsche Bank Initiated their ratings for the stock with a price target of $49. Stock get a Buy rating from The Benchmark Company on November 19, 2021.
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