Gotham Asset Management LLC Purchases 310,566 Shares of Weatherford International PLC $WFRD

Key Points

• Gotham Asset Management LLC significantly increased its holdings in Weatherford International PLC by 301.1% during the first quarter, owning 413,698 shares valued at approximately $22.15 million.
• Several other hedge funds have also boosted their stakes in Weatherford, with 97.23% of stock currently held by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" for Weatherford International, with a price target average of $99.70, while the company reported a quarterly earnings beat with EPS of $1.87.

Gotham Asset Management LLC grew its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 301.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,698 shares of the company's stock after acquiring an additional 310,566 shares during the period. Gotham Asset Management LLC owned 0.57% of Weatherford International worth $22,154,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Weatherford International by 31.2% during the 4th quarter. Northern Trust Corp now owns 669,040 shares of the company's stock worth $47,923,000 after acquiring an additional 159,160 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Weatherford International in the fourth quarter worth about $3,028,000. Crestline Management LP bought a new position in shares of Weatherford International in the fourth quarter worth about $802,000. DME Capital Management LP grew its position in shares of Weatherford International by 157.5% during the 4th quarter. DME Capital Management LP now owns 456,639 shares of the company's stock worth $32,709,000 after buying an additional 279,300 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Weatherford International by 2,351.2% during the 4th quarter. Deutsche Bank AG now owns 130,576 shares of the company's stock worth $9,353,000 after buying an additional 125,249 shares during the period. 97.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Melius assumed coverage on shares of Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Barclays decreased their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated 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. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Stock Performance

Shares of NASDAQ WFRD traded up $0.16 during mid-day trading on Tuesday, reaching $61.92. 501,546 shares of the company's stock were exchanged, compared to its average volume of 1,286,678. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $98.21. The firm has a 50-day moving average price of $57.53 and a two-hundred day moving average price of $51.98. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. 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 issued 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.Weatherford International's revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International's dividend 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.