Weatherford International PLC $WFRD Shares Purchased by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. increased its stake in Weatherford International by 24.7%, acquiring a total of 42,117 shares valued at approximately $2,255,000.
• Weatherford International reported a significant earnings surprise with an EPS of $1.87, exceeding estimates by $0.90 but also revealed a 14.3% decline in revenue year-over-year.
• The stock has a consensus rating of "Moderate Buy" among analysts, with a price target averaging $99.70 and notable ratings from various brokerages.

EFG Asset Management North America Corp. raised its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 24.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,117 shares of the company's stock after buying an additional 8,336 shares during the period. EFG Asset Management North America Corp. owned about 0.06% of Weatherford International worth $2,255,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WFRD. Gradient Investments LLC boosted its position in shares of Weatherford International by 1.4% during the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock worth $861,000 after acquiring an additional 228 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 231 shares during the period. State of Alaska Department of Revenue increased its stake in Weatherford International by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company's stock worth $1,473,000 after buying an additional 245 shares during the period. Covestor Ltd increased its stake in Weatherford International by 34.3% in the 1st quarter. Covestor Ltd now owns 1,244 shares of the company's stock worth $67,000 after buying an additional 318 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Weatherford International by 20.7% in the 1st quarter. TD Private Client Wealth LLC now owns 2,360 shares of the company's stock worth $126,000 after buying an additional 404 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WFRD. Melius began coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective on the stock. 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. 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. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Finally, Melius Research assumed coverage on shares of Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price for the company. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and a consensus target price of $99.70.

Weatherford International Trading Up 1.9%

NASDAQ WFRD traded up $1.20 during trading hours on Wednesday, reaching $63.12. The company had a trading volume of 326,864 shares, compared to its average volume of 1,281,046. The stock has a 50-day moving average of $57.73 and a 200 day moving average of $52.05. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $98.21. The stock has a market capitalization of $4.53 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International's payout ratio is presently 15.48%.

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.