Weatherford International PLC $WFRD Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Weatherford International PLC by 122.8%, now owning 8,117 shares valued at $435,000.
• Research analysts have given Weatherford International a consensus rating of "Moderate Buy" with an average price target of $97.63, indicating strong confidence in the company's prospects.
• The company recently announced a quarterly dividend of $0.25 per share, representing a 1.8% yield, set to be paid on September 4th.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 122.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,117 shares of the company's stock after acquiring an additional 4,474 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Weatherford International were worth $435,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after acquiring an additional 503 shares in the last quarter. GAMMA Investing LLC increased 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 acquiring an additional 231 shares during the period. Signaturefd LLC increased its position in shares of Weatherford International by 1,002.0% in the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock valued at $58,000 after acquiring an additional 992 shares during the period. Meeder Asset Management Inc. acquired a new position in Weatherford International during the first quarter valued at $62,000. Finally, IFP Advisors Inc acquired a new position in Weatherford International during the first quarter valued at $71,000. 97.23% of the stock is owned by institutional investors.

Weatherford International Trading Up 1.9%

Shares of Weatherford International stock traded up $1.15 during mid-day trading on Monday, hitting $61.98. The stock had a trading volume of 959,000 shares, compared to its average volume of 817,033. The firm has a 50-day moving average of $54.89 and a two-hundred day moving average of $52.44. Weatherford International PLC has a 12-month low of $36.74 and a 12-month 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 market cap of $4.45 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77.

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

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is currently 15.48%.

Analyst Ratings Changes

WFRD has been the subject of several research analyst reports. Raymond James Financial restated an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Melius Research initiated coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Citigroup reduced their price target on shares of 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 price target on shares of 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 upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Nine investment 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, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $99.70.

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.