Deutsche Bank AG Decreases Stock Holdings in Weatherford International PLC $WFRD

Key Points

• Deutsche Bank AG has significantly decreased its stake in Weatherford International PLC by 56.4%, selling 73,697 shares to reduce its ownership to 56,879 shares valued at approximately $3 million.
• Several institutional investors have increased their positions in Weatherford, with notable boosts including Signaturefd LLC, which raised its stake by 1,002% during the same period.
• Weatherford International is currently rated as a "Moderate Buy" by analysts, with an average price target of $97.63 and the company's stock recently reported a 0.5% decline to $56.32.

Deutsche Bank AG cut its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 56.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,879 shares of the company's stock after selling 73,697 shares during the period. Deutsche Bank AG owned about 0.08% of Weatherford International worth $3,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC lifted its position in Weatherford International by 1,002.0% in the first 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 last quarter. Janney Montgomery Scott LLC purchased a new stake in Weatherford International in the first quarter valued at $445,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 231 shares during the period. Diversified Trust Co acquired a new position in Weatherford International in the first quarter valued at $419,000. Finally, Hara Capital LLC acquired a new position in Weatherford International in the first quarter valued at $1,845,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

Shares of Weatherford International stock traded up $1.15 on Monday, reaching $61.98. 959,000 shares of the stock were exchanged, compared to its average volume of 817,033. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $111.23. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average price of $54.89 and a two-hundred day moving average price of $52.44. The firm has a market capitalization of $4.45 billion, a PE ratio of 9.59, a PEG ratio of 1.76 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $1.66 earnings per share. The business's revenue was down 14.3% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date is Wednesday, August 6th. Weatherford International's payout ratio is 15.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Melius assumed coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective on the stock. Melius Research assumed coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective on the stock. Barclays dropped their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Citigroup dropped their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Weatherford International currently has an average rating of "Moderate Buy" and a consensus 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.