Assetmark Inc. Has $760,000 Position in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Assetmark Inc. significantly increased its stake in Weatherford International PLC by 141,810%, owning 14,191 shares valued at approximately $760,000 as of the latest reporting period.
• Weatherford International posted a record earnings per share of $1.87 for the last quarter, exceeding the consensus estimate of $0.97, though its revenue declined by 14.3% year-over-year.
• The company announced a $0.25 quarterly dividend, indicating an annual yield of 1.8%, with a payout ratio of 15.48% and the dividend to be paid on September 4th.

Assetmark Inc. boosted its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 141,810.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,191 shares of the company's stock after purchasing an additional 14,181 shares during the quarter. Assetmark Inc.'s holdings in Weatherford International were worth $760,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WFRD. Treasurer of the State of North Carolina increased its holdings in shares of Weatherford International by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after acquiring an additional 200 shares during the last quarter. Covestor Ltd increased its holdings in shares of Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after acquiring an additional 214 shares during the last quarter. Gradient Investments LLC boosted its position in shares of Weatherford International by 1.4% in the 1st quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after purchasing an additional 228 shares during the period. GAMMA Investing LLC boosted its position 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 purchasing an additional 231 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Weatherford International by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company's stock valued at $1,473,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Stock Up 2.0%

Shares of WFRD stock traded up $1.12 during trading hours on Tuesday, reaching $56.97. The company had a trading volume of 313,056 shares, compared to its average volume of 1,356,033. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $111.23. The company has a market capitalization of $4.09 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 1.58 and a beta of 0.77. The stock's fifty day simple moving average is $52.30 and its 200 day simple moving average is $53.56.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The business's revenue was down 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio is presently 15.48%.

Analyst Ratings Changes

A number of analysts recently issued reports on WFRD shares. Raymond James Financial reissued an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Citigroup decreased their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Barclays decreased their price objective on 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, Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and raised their price target for the company from $62.00 to $73.00 in a report on Monday, July 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.63.

Weatherford International 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.