5,475 Shares in Weatherford International PLC (NASDAQ:WFRD) Acquired by Oak Thistle LLC

Key Points

• Oak Thistle LLC has acquired a new stake in Weatherford International PLC, buying 5,475 shares valued at approximately $293,000.
• The company's stock has a market capitalization of $4.08 billion and reported a 1.87 EPS for the last quarter, exceeding analysts' expectations.
• Weatherford International recently declared a quarterly dividend of $0.25, resulting in an annualized dividend yield of 1.76%.

Oak Thistle LLC acquired a new position in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,475 shares of the company's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its holdings in shares of Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after buying an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Weatherford International during the fourth quarter worth $29,000. Fifth Third Bancorp raised its position in shares of Weatherford International by 546.7% during the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the period. GAMMA Investing LLC raised its position in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares during the period. Finally, Signaturefd LLC raised its position in shares of Weatherford International by 1,002.0% during the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after purchasing an additional 992 shares during the period. Institutional investors own 97.23% of the company's stock.

Weatherford International Stock Down 1.5%

Weatherford International stock traded down $0.88 during trading hours on Tuesday, hitting $58.10. The company had a trading volume of 163,306 shares, compared to its average volume of 1,370,303. The firm has a market capitalization of $4.17 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. The firm's fifty day moving average is $51.21 and its 200-day moving average is $54.06. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $118.37.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $1.66 earnings per share. Weatherford International's revenue for the quarter was down 14.3% compared to the same quarter last year. On average, research analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, August 6th. Weatherford International's payout ratio is currently 15.48%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $62.00 to $73.00 in a report on Monday. Citigroup cut their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Raymond James Financial restated an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Finally, Barclays cut their price target on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.63.

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.