Algert Global LLC Invests $522,000 in Weatherford International PLC $WFRD

Key Points

• Algert Global LLC purchased 9,750 shares of Weatherford International PLC, worth approximately $522,000, during the 1st quarter as reported in their recent SEC filing.
• Weatherford International has received various upgrades from analysts, with nine investment analysts rating it as a Buy and a current average target price of $99.70.
• The company reported earnings of $1.87 EPS for the quarter, exceeding expectations, despite a year-over-year revenue decline of 14.3%.

Algert Global LLC acquired a new position in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,750 shares of the company's stock, valued at approximately $522,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. lifted its stake in shares of Weatherford International by 36.4% in the first quarter. Raymond James Financial Inc. now owns 137,353 shares of the company's stock worth $7,355,000 after acquiring an additional 36,630 shares during the period. American Century Companies Inc. lifted its stake in shares of Weatherford International by 47.7% in the first quarter. American Century Companies Inc. now owns 414,338 shares of the company's stock worth $22,188,000 after acquiring an additional 133,828 shares during the period. Tejara Capital Ltd acquired a new position in shares of Weatherford International in the first quarter worth approximately $1,869,000. Russell Investments Group Ltd. lifted its stake in shares of Weatherford International by 23.8% in the first quarter. Russell Investments Group Ltd. now owns 51,977 shares of the company's stock worth $2,783,000 after acquiring an additional 9,981 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Weatherford International in the first quarter worth approximately $17,168,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Up 0.5%

Shares of NASDAQ:WFRD traded up $0.35 during trading on Thursday, reaching $64.03. 788,395 shares of the stock were exchanged, compared to its average volume of 1,305,156. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $106.47. The stock has a fifty day moving average of $55.34 and a two-hundred day moving average of $52.58. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.78 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its 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 return on equity of 34.87% and a net margin of 9.35%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. Weatherford International's revenue for the quarter was down 14.3% on a year-over-year basis. Research analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio is presently 15.48%.

Wall Street Analysts Forecast Growth

WFRD has been the topic of a number of recent analyst reports. Melius Research initiated coverage on Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective on the stock. Melius started coverage on Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price target on the stock. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday. Citigroup dropped their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Weatherford International has a consensus rating of "Moderate Buy" and a consensus target price of $99.70.

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.