Encompass Capital Advisors LLC Takes $27.36 Million Position in Weatherford International PLC $WFRD

Key Points

• Encompass Capital Advisors LLC has acquired 510,830 shares of Weatherford International PLC, representing a new position valued at approximately $27.35 million, which constitutes about 0.70% of the company.
• Weatherford International recently announced a $0.25 quarterly dividend for shareholders, indicating strong financial health with a payout ratio of 15.48%.
• Analysts have mixed views on Weatherford, with target prices ranging from $70 to $108, and a consensus rating of "Moderate Buy" based on 9 Buy and 2 Hold ratings from various analysts.

Encompass Capital Advisors LLC acquired a new position in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 510,830 shares of the company's stock, valued at approximately $27,355,000. Encompass Capital Advisors LLC owned 0.70% of Weatherford International as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of WFRD. Bank of New York Mellon Corp grew its stake in Weatherford International by 67.1% during the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock valued at $64,343,000 after acquiring an additional 482,352 shares in the last quarter. Janus Henderson Group PLC grew its stake in Weatherford International by 76.7% in the 4th quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock worth $65,011,000 after buying an additional 393,955 shares in the last quarter. Vanguard Group Inc. grew its stake in Weatherford International by 4.5% in the 1st 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 in the last quarter. Voloridge Investment Management LLC grew its stake in Weatherford International by 135.2% in the 4th quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock worth $41,932,000 after buying an additional 336,504 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Weatherford International by 1,465.4% in the 1st quarter. Fiera Capital Corp now owns 352,740 shares of the company's stock worth $18,889,000 after acquiring an additional 330,206 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Melius Research began coverage on shares of Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Barclays decreased their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $70.00 price objective (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Citigroup reduced 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, Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and a consensus price target of $99.70.

Weatherford International Price Performance

Shares of WFRD stock traded up $0.68 on Tuesday, reaching $62.44. The company's stock had a trading volume of 213,856 shares, compared to its average volume of 1,284,961. 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 stock's fifty day simple moving average is $57.53 and its 200-day simple moving average is $51.98. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $98.21.

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, topping the consensus estimate of $0.97 by $0.90. The company 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%. Weatherford International's quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 earnings per share. Analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date 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.