Citigroup Inc. Buys 65,567 Shares of Weatherford International PLC $WFRD

Key Points

• Citigroup Inc. increased its stake in Weatherford International by 96.5%, acquiring an additional 65,567 shares, bringing its total ownership to 133,518 shares valued at approximately $7.15 million.
• Several institutional investors have also significantly boosted their positions in Weatherford, with Bank of Montreal Can raising its stake by over 150% in the last quarter.
• Weatherford recently declared a quarterly dividend of $0.25 per share, translating to an annual yield of 1.8%, with a payout ratio of 15.48%.

Citigroup Inc. increased its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 96.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,518 shares of the company's stock after acquiring an additional 65,567 shares during the period. Citigroup Inc. owned about 0.18% of Weatherford International worth $7,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Signaturefd LLC boosted its position in shares of 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 acquiring an additional 992 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Weatherford International in the first quarter valued at approximately $445,000. GAMMA Investing LLC boosted its position in Weatherford International by 55.8% in the first 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. Diversified Trust Co acquired a new stake in Weatherford International in the first quarter valued at approximately $419,000. Finally, Hara Capital LLC acquired a new stake in Weatherford International in the first quarter valued at approximately $1,845,000. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Trading Up 0.7%

NASDAQ WFRD traded up $0.39 during mid-day trading on Thursday, reaching $56.75. 62,656 shares of the stock were exchanged, compared to its average volume of 1,310,186. Weatherford International PLC has a one year low of $36.74 and a one year high of $111.23. The stock has a 50 day simple moving average of $54.44 and a 200-day simple moving average of $52.73. The stock has a market cap of $4.08 billion, a P/E ratio of 8.78, a P/E/G ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, topping 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 the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $1.66 earnings per share. Weatherford International's quarterly revenue was down 14.3% on a year-over-year basis. On average, analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is currently 15.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WFRD. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and raised their target price for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Melius Research began coverage on shares of Weatherford International in a research report on Wednesday. They issued a "buy" rating and a $108.00 target price on the stock. Barclays cut their target price on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Melius began coverage on shares of Weatherford International in a research report on Wednesday. They issued a "buy" rating and a $108.00 target price on the stock. Finally, Citigroup cut their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $99.70.

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.