Encompass Capital Advisors LLC Invests $27.36 Million 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 bought a new position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Brooklyn Investment Group increased its stake in Weatherford International by 30,600.0% in the first quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after purchasing an additional 612 shares during the last quarter. 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 last quarter. Quarry LP increased its stake in Weatherford International by 188.6% in the first quarter. Quarry LP now owns 1,036 shares of the company's stock valued at $55,000 after purchasing an additional 677 shares during the last quarter. Finally, Signaturefd LLC increased its stake 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 purchasing an additional 992 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFRD has been the topic of several recent analyst reports. Melius Research initiated coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price target on the stock. Citigroup decreased their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Raymond James Financial reissued 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. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Finally, Melius initiated coverage on Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.70.

Weatherford International Price Performance

Weatherford International stock traded down $0.74 during midday trading on Monday, reaching $61.76. The company's stock had a trading volume of 650,099 shares, compared to its average volume of 1,291,296. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $98.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. The stock's 50 day simple moving average is $57.30 and its 200 day simple moving average is $52.00. The firm has a market capitalization of $4.44 billion, a PE ratio of 9.56, a P/E/G ratio of 1.81 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $1.66 earnings per share. Weatherford International's quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International's payout ratio is 15.48%.

About Weatherford International

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.