Weatherford International PLC $WFRD Shares Bought by Alyeska Investment Group L.P.

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. lifted its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 396.5% in the 1st quarter, according to the company in its most recent disclosure 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Weatherford International by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after buying an additional 347,584 shares during the last quarter. Invesco Ltd. increased its stake in shares of Weatherford International by 2.0% in the first quarter. Invesco Ltd. now owns 1,485,746 shares of the company's stock worth $79,562,000 after acquiring an additional 29,840 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Weatherford International by 13.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company's stock worth $78,940,000 after purchasing an additional 171,124 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Weatherford International by 67.1% during the first 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. Finally, Victory Capital Management Inc. lifted its position in Weatherford International by 43.7% during the first quarter. Victory Capital Management Inc. now owns 1,046,520 shares of the company's stock valued at $56,041,000 after purchasing an additional 318,254 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Price Performance

NASDAQ WFRD traded up $0.16 during trading hours on Tuesday, hitting $61.92. 501,511 shares of the company's stock traded hands, compared to its average volume of 1,285,513. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $98.21. 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 company has a market capitalization of $4.45 billion, a PE ratio of 9.59, a PEG ratio of 1.81 and a beta of 0.78. The firm's 50-day moving average is $57.53 and its 200-day moving average is $51.98.

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

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were issued a $0.25 dividend. 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 payout ratio is currently 15.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Melius began coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price on the stock. Melius Research started coverage on Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Raymond James Financial restated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Finally, Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.