Cynosure Group LLC Purchases 5,150 Shares of Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Cynosure Group LLC increased its stake in Weatherford International PLC by 38.2%, acquiring an additional 5,150 shares, bringing its total holdings to 18,633 shares valued at approximately $998,000.
• Weatherford International recently announced a quarterly dividend of $0.25 per share, indicating a yield of 1.8% and reflecting a dividend payout ratio of 15.48%.
• During its last earnings report, Weatherford International posted $1.87 EPS, significantly surpassing analyst expectations of $0.97, although its revenue decreased by 14.3% year-over-year.

Cynosure Group LLC increased its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,633 shares of the company's stock after purchasing an additional 5,150 shares during the period. Cynosure Group LLC's holdings in Weatherford International were worth $998,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Weatherford International by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after buying an additional 347,584 shares during the period. Capital Research Global Investors boosted its stake in Weatherford International by 295.9% during the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after buying an additional 4,443,823 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Weatherford International by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock worth $315,375,000 after buying an additional 298,811 shares during the period. FMR LLC boosted its stake in Weatherford International by 1.8% during the fourth quarter. FMR LLC now owns 3,638,934 shares of the company's stock worth $260,657,000 after buying an additional 65,931 shares during the period. Finally, Invesco Ltd. purchased a new position in Weatherford International during the fourth quarter worth $104,287,000. Institutional investors own 97.23% of the company's stock.

Weatherford International Stock Up 0.3%

Shares of WFRD stock traded up $0.15 on Friday, hitting $55.44. The stock had a trading volume of 661,194 shares, compared to its average volume of 1,038,858. 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 business has a 50 day moving average price of $53.16 and a 200 day moving average price of $53.11. The company has a market cap of $3.98 billion, a PE ratio of 8.58, a P/E/G ratio of 1.60 and a beta of 0.77. Weatherford International PLC has a one year low of $36.74 and a one year high of $111.23.

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

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be issued a $0.25 dividend. 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 presently 15.48%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Citigroup lowered their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial reissued an "outperform" rating and set a $70.00 target price (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Finally, Barclays lowered their target price on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.