Alyeska Investment Group L.P. Has $14.74 Million Stock Holdings in Weatherford International PLC $WFRD

Key Points

• Alyeska Investment Group L.P. significantly increased its stake in Weatherford International PLC, purchasing an additional 219,737 shares, bringing their total ownership to 275,159 shares, valued at approximately $14.7 million.
• Weatherford International's recent earnings report showed a notable EPS of $1.87, surpassing analyst estimates, although revenue declined by 14.3% year-over-year.
• The company has declared a quarterly dividend of $0.25 per share, which represents an annualized rate of $1.00 and a dividend yield of 1.6% as of now.

Alyeska Investment Group L.P. grew its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 396.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,159 shares of the company's stock after purchasing an additional 219,737 shares during the quarter. Alyeska Investment Group L.P. owned about 0.38% of Weatherford International worth $14,735,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WFRD. Bank of New York Mellon Corp increased its position in shares of Weatherford International by 67.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock worth $64,343,000 after purchasing an additional 482,352 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Weatherford International by 76.7% during the 4th quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock valued at $65,011,000 after purchasing an additional 393,955 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Weatherford International by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock valued at $431,104,000 after purchasing an additional 347,584 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Weatherford International by 135.2% during the fourth quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock worth $41,932,000 after purchasing an additional 336,504 shares during the period. Finally, Fiera Capital Corp boosted its position in Weatherford International by 1,465.4% during the first quarter. Fiera Capital Corp now owns 352,740 shares of the company's stock worth $18,889,000 after purchasing an additional 330,206 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Performance

NASDAQ WFRD traded up $0.81 on Wednesday, reaching $62.73. The stock had a trading volume of 242,703 shares, compared to its average volume of 1,280,334. 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 has a fifty day moving average of $57.73 and a two-hundred day moving average of $52.05. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $98.21. The company has a market cap of $4.51 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

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

Weatherford International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on WFRD. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Melius began coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Barclays reduced their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Finally, Melius Research started coverage on Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.70.

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.