Weatherford International PLC $WFRD Shares Purchased by Citigroup Inc.

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. boosted its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 96.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,518 shares of the company's stock after buying an additional 65,567 shares during the period. Citigroup Inc. owned approximately 0.18% of Weatherford International worth $7,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. Fifth Third Bancorp boosted its position in shares of Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Weatherford International during the 4th quarter worth $73,000. 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 purchasing an additional 992 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Weatherford International during the 1st quarter worth $62,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on WFRD shares. Barclays decreased 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 Research started coverage on shares of Weatherford International in a research report on Wednesday. They set a "buy" rating and a $108.00 target price on the stock. Raymond James Financial restated an "outperform" rating and set 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 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. Finally, Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.70.

Weatherford International Price Performance

Shares of Weatherford International stock traded up $0.95 on Thursday, hitting $57.31. The company's stock had a trading volume of 554,878 shares, compared to its average volume of 885,945. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $111.23. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average price of $54.53 and a 200-day moving average price of $52.68. The company has a market capitalization of $4.12 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77.

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, beating the consensus estimate of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $1.66 EPS. The firm's revenue for the quarter was down 14.3% on a year-over-year basis. On average, equities research analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal 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 $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.7%. Weatherford International's payout ratio is presently 15.48%.

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.