GAMMA Investing LLC Grows Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

GAMMA Investing LLC increased its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 8,243.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,540 shares of the company's stock after buying an additional 34,126 shares during the period. GAMMA Investing LLC's holdings in Weatherford International were worth $1,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Xponance Inc. increased its stake in shares of Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company's stock worth $1,223,000 after buying an additional 167 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Weatherford International by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after purchasing an additional 200 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. Covestor Ltd boosted its holdings in Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFRD. Raymond James downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $73.00 to $69.00 in a report on Thursday, April 24th. Barclays lowered their price target on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Citigroup lowered their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Piper Sandler lowered their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.63.

Weatherford International Stock Performance

Shares of WFRD stock traded up $0.56 during trading hours on Friday, hitting $53.03. The stock had a trading volume of 1,025,808 shares, compared to its average volume of 1,194,366. The firm has a market capitalization of $3.85 billion, a PE ratio of 7.89, a PEG ratio of 1.65 and a beta of 0.73. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The stock's 50 day moving average is $45.69 and its 200 day moving average is $58.69. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, research 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, June 5th. Stockholders of record on Tuesday, May 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Tuesday, May 6th. Weatherford International's payout ratio is currently 16.00%.

Insider Buying and Selling

In other news, Director Neal P. Goldman acquired 12,000 shares of the company's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the purchase, the director now owns 25,311 shares of the company's stock, valued at $1,064,074.44. This represents a 90.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.09% of the company's stock.

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.