Fuller & Thaler Asset Management Inc. Buys 171,124 Shares of 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. boosted its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,474,131 shares of the company's stock after purchasing an additional 171,124 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 2.03% of Weatherford International worth $78,940,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Brooklyn Investment Group grew its holdings in shares of Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after buying an additional 612 shares during the last quarter. Algert Global LLC acquired a new position in shares of Weatherford International during the first quarter valued at about $522,000. Raymond James Financial Inc. grew its holdings in shares of Weatherford International by 36.4% during the first quarter. Raymond James Financial Inc. now owns 137,353 shares of the company's stock valued at $7,355,000 after buying an additional 36,630 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Weatherford International by 47.7% during the first quarter. American Century Companies Inc. now owns 414,338 shares of the company's stock valued at $22,188,000 after buying an additional 133,828 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new position in shares of Weatherford International during the first quarter valued at about $1,869,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Melius assumed coverage on shares of Weatherford International in a report on Wednesday. They set a "buy" rating and a $108.00 price objective for the company. Barclays reduced 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. Citigroup reduced their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Melius Research started coverage on shares of Weatherford International in a report on Wednesday. They set a "buy" rating and a $108.00 price target on the stock. Finally, Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.70.

Weatherford International Stock Up 6.1%

Weatherford International stock traded up $3.52 during midday trading on Friday, hitting $60.83. 790,757 shares of the stock were exchanged, compared to its average volume of 817,033. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $111.23. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77. The business's 50-day moving average price is $54.69 and its 200-day moving average price is $52.47. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced 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 business had revenue of $1.20 billion for 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 company'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, research analysts expect that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's payout ratio is currently 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.