Acadian Asset Management LLC Makes New Investment in Weatherford International PLC $WFRD

Key Points

• Acadian Asset Management LLC invested approximately $3.79 million in Weatherford International PLC, acquiring 70,834 shares during the first quarter, representing 0.10% of the company's total stock.
• Weatherford International recently reported earnings of $1.87 per share, significantly surpassing analysts' expectations of $0.97, although revenue decreased 14.3% compared to the previous year.
• The company declared a quarterly dividend of $0.25 per share, yielding an annualized dividend of $1.00, with a payout ratio of 15.48%.

Acadian Asset Management LLC purchased a new position in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 70,834 shares of the company's stock, valued at approximately $3,790,000. Acadian Asset Management LLC owned approximately 0.10% of Weatherford International at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Weatherford International by 1,002.0% during the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after buying an additional 992 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Weatherford International in the 1st quarter valued at about $445,000. Algert Global LLC bought a new stake in shares of Weatherford International in the 1st quarter valued at approximately $522,000. GAMMA Investing LLC grew its stake in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after buying an additional 231 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Weatherford International in the 1st quarter valued at approximately $419,000. Institutional investors and hedge funds own 97.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Melius Research initiated coverage on Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price for the company. Barclays cut their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Finally, Melius started coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Weatherford International has a consensus rating of "Moderate Buy" and an average price target of $99.70.

Weatherford International Trading Down 0.7%

NASDAQ WFRD opened at $62.30 on Monday. The firm has a market cap of $4.48 billion, a P/E ratio of 9.64, a P/E/G ratio of 1.70 and a beta of 0.78. 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 stock's 50-day moving average is $58.23 and its 200-day moving average is $51.96. Weatherford International PLC has a one year low of $36.74 and a one year high of $98.21.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $1.66 EPS. Weatherford International's revenue for the quarter was down 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Weatherford International's payout ratio is 15.48%.

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.

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