Gotham Asset Management LLC Has $22.15 Million Position in 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 lifted its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 301.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,698 shares of the company's stock after purchasing an additional 310,566 shares during the period. Gotham Asset Management LLC owned 0.57% of Weatherford International worth $22,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WFRD. Fifth Third Bancorp lifted its position in Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after acquiring an additional 503 shares during the last quarter. Brooklyn Investment Group lifted its position in Weatherford International by 30,600.0% during the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock worth $33,000 after acquiring an additional 612 shares during the last quarter. GAMMA Investing LLC lifted its position in Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after acquiring an additional 231 shares during the last quarter. Mattson Financial Services LLC acquired a new position in Weatherford International during the 4th quarter worth $73,000. Finally, Quarry LP lifted its position in Weatherford International by 188.6% during the 1st quarter. Quarry LP now owns 1,036 shares of the company's stock worth $55,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Up 1.9%

Shares of WFRD stock traded up $1.20 during trading hours on Wednesday, hitting $63.12. 326,864 shares of the company were exchanged, compared to its average volume of 1,281,046. The business has a 50 day moving average of $57.73 and a two-hundred day moving average of $52.05. 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 52 week low of $36.74 and a 52 week high of $98.21. The company has a market capitalization of $4.53 billion, a PE ratio of 9.77, a PEG ratio of 1.69 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. The firm had revenue of $1.20 billion during 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%. The company's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 earnings per share. Analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were paid a $0.25 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's payout ratio is 15.48%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Melius initiated coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price for the company. Barclays cut their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Finally, Melius Research initiated coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.70.

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.