DME Capital Management LP Acquires 279,300 Shares of Weatherford International plc (NASDAQ:WFRD)

DME Capital Management LP boosted its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 157.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 456,639 shares of the company's stock after purchasing an additional 279,300 shares during the period. Weatherford International comprises approximately 1.7% of DME Capital Management LP's investment portfolio, making the stock its 17th biggest position. DME Capital Management LP owned 0.63% of Weatherford International worth $32,709,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Corigliano Investment Advisers LLC bought a new stake in Weatherford International during the 4th quarter worth approximately $6,565,000. Crestline Management LP bought a new stake in shares of Weatherford International in the fourth quarter worth $802,000. Capstone Investment Advisors LLC acquired a new stake in Weatherford International in the fourth quarter valued at $3,701,000. BNP Paribas Financial Markets bought a new position in Weatherford International during the 4th quarter worth $3,028,000. Finally, Atlantic Investment Management Inc. lifted its holdings in Weatherford International by 55.9% during the 4th quarter. Atlantic Investment Management Inc. now owns 438,109 shares of the company's stock worth $31,382,000 after buying an additional 157,000 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Up 1.1 %

Shares of WFRD traded up $0.51 during trading hours on Friday, reaching $46.07. The stock had a trading volume of 1,765,395 shares, compared to its average volume of 1,155,950. The firm has a 50-day simple moving average of $47.70 and a 200 day simple moving average of $64.82. Weatherford International plc has a 12 month low of $36.74 and a 12 month high of $135.00. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 1.65 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Equities research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International's payout ratio is currently 16.00%.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of analyst reports. Barclays lowered their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Raymond James lowered shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Benchmark reduced their price objective on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Piper Sandler lowered their target price on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.75.

Insider Buying and Selling at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now directly owns 25,311 shares in the company, valued at approximately $1,064,074.44. This trade represents a 90.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.09% of the company's stock.

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.