Boston Partners Decreases Stock Position in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Boston Partners has reduced its stake in Weatherford International PLC by 19.2%, owning approximately 3.09% of the company, which is valued at about $120 million following the sale of over 534,000 shares.
• Weatherford International's quarterly earnings exceeded analyst expectations, reporting $1.87 EPS against estimates of $0.97, despite a 14.3% decline in revenue year-over-year.
• The company recently announced a $0.25 quarterly dividend, reflecting a 1.7% yield, with a modest payout ratio of 15.48%.

Boston Partners decreased its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,243,076 shares of the company's stock after selling 534,052 shares during the quarter. Boston Partners owned about 3.09% of Weatherford International worth $120,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WFRD. Russell Investments Group Ltd. grew its position in shares of Weatherford International by 4.8% in the fourth quarter. Russell Investments Group Ltd. now owns 41,996 shares of the company's stock valued at $3,008,000 after purchasing an additional 1,918 shares during the last quarter. Bank of Montreal Can increased its position in Weatherford International by 150.7% during the 4th quarter. Bank of Montreal Can now owns 15,982 shares of the company's stock worth $1,145,000 after purchasing an additional 9,607 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Weatherford International during the 4th quarter worth approximately $7,215,000. Treasurer of the State of North Carolina lifted its stake 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. Finally, Townsquare Capital LLC lifted its stake in shares of Weatherford International by 7.2% in the 4th quarter. Townsquare Capital LLC now owns 20,699 shares of the company's stock valued at $1,483,000 after acquiring an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup lowered 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 reduced their target price 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. Raymond James Financial restated an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Finally, Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $62.00 to $73.00 in a research note on Monday, July 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.63.

Weatherford International Price Performance

Weatherford International stock traded down $1.19 during midday trading on Friday, reaching $55.29. The company had a trading volume of 627,686 shares, compared to its average volume of 1,071,418. The firm's fifty day simple moving average is $54.11 and its 200-day simple moving average is $52.80. 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 $3.97 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.60 and a beta of 0.77. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $111.23.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly 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. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business earned $1.66 earnings per share. The business's revenue for the quarter was down 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 6th. Weatherford International's payout ratio is currently 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.