Federated Hermes Inc. Sells 21,882 Shares of Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Federated Hermes Inc. reduced its stake in Weatherford International PLC by 18.6%, now holding around 95,575 shares valued at approximately $5.12 million.
• Weatherford International recently announced a quarterly dividend of $0.25 per share, which will be paid on September 4th, representing a yield of 1.8%.
• Analyst ratings for Weatherford International are generally positive, with a consensus rating of "Moderate Buy" and an average target price of $97.63.

Federated Hermes Inc. trimmed its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,575 shares of the company's stock after selling 21,882 shares during the quarter. Federated Hermes Inc. owned 0.13% of Weatherford International worth $5,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after buying an additional 257 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the period. GAMMA Investing LLC boosted its stake in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after buying an additional 231 shares during the period. Signaturefd LLC raised its position in shares of Weatherford International by 1,002.0% during the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after acquiring an additional 992 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Weatherford International during the first quarter worth approximately $62,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WFRD. Citigroup decreased their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Barclays dropped their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and increased their price target for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.63.

Weatherford International Stock Up 3.1%

Shares of NASDAQ WFRD traded up $1.75 during mid-day trading on Tuesday, hitting $57.60. The company had a trading volume of 1,004,844 shares, compared to its average volume of 1,077,466. 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 one year low of $36.74 and a one year high of $111.23. The firm has a 50-day simple moving average of $52.30 and a two-hundred day simple moving average of $53.56. The company has a market capitalization of $4.14 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 1.62 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. Weatherford International's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. On average, equities analysts expect that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio is presently 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.