Fuller & Thaler Asset Management Inc. Boosts Position in Weatherford International PLC $WFRD

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Weatherford International PLC by 13.1%, acquiring an additional 171,124 shares, bringing their total ownership to approximately 2.03% of the company.
• Weatherford recently announced a quarterly dividend of $0.25 to be paid on September 4th, representing an annualized payout of $1.00 and a dividend yield of 1.8%.
• Despite reporting a 14.3% decline in revenue year-over-year, Weatherford exceeded analyst expectations with an earnings per share of $1.87, compared to an estimate of $0.97.

Fuller & Thaler Asset Management Inc. increased its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 13.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,474,131 shares of the company's stock after purchasing an additional 171,124 shares during the period. Fuller & Thaler Asset Management Inc. owned 2.03% of Weatherford International worth $78,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 503 shares during the last quarter. Brooklyn Investment Group increased its position in Weatherford International by 30,600.0% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after acquiring an additional 612 shares during the period. GAMMA Investing LLC increased its position in 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 acquiring an additional 231 shares during the period. Signaturefd LLC raised its stake in Weatherford International by 1,002.0% during the 1st 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. Finally, Meeder Asset Management Inc. acquired a new stake in Weatherford International during the 1st quarter worth approximately $62,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WFRD shares. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $62.00 to $73.00 in a report on Monday, July 28th. Citigroup lowered 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 report on Tuesday, May 13th. 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. Melius initiated coverage on shares of Weatherford International in a research note on Wednesday. They issued a "buy" rating and a $108.00 target price for the company. Finally, Melius Research initiated coverage on shares of Weatherford International in a report on Wednesday. They issued a "buy" rating and a $108.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.70.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $0.95 during trading on Thursday, hitting $57.31. 554,878 shares of the company were exchanged, compared to its average volume of 885,945. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.63 and a beta of 0.77. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $111.23. The firm's fifty day moving average price is $54.53 and its 200 day moving average price is $52.68. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.66 EPS. The business's revenue was down 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

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