Gradient Investments LLC Purchases 6,776 Shares of Weatherford International PLC $WFRD

Key Points

• Gradient Investments LLC increased its stake in Weatherford International PLC by 42.1%, acquiring 6,776 additional shares worth approximately $1.15 million at the end of the second quarter.
• Weatherford International reported a quarterly EPS of $1.87, significantly exceeding market expectations of $0.97, despite a 14.3% decline in revenue year-over-year.
• The company's recent dividend payout was $0.25, resulting in an annualized dividend of $1.00 with a yield of 1.6%.

Gradient Investments LLC lifted its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 42.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,856 shares of the company's stock after buying an additional 6,776 shares during the quarter. Gradient Investments LLC's holdings in Weatherford International were worth $1,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFRD. Fifth Third Bancorp grew its position in shares of 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 buying an additional 503 shares in the last quarter. Brooklyn Investment Group grew its position in shares of 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 buying an additional 612 shares in the last quarter. GAMMA Investing LLC grew its position in shares of 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 buying an additional 231 shares in the last quarter. Quarry LP grew its position in shares of 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 buying an additional 677 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Weatherford International by 1,002.0% during the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock valued at $58,000 after purchasing an additional 992 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

Weatherford International Trading Down 1.4%

Shares of NASDAQ:WFRD opened at $61.40 on Tuesday. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $98.21. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.70 and a beta of 0.78. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $58.40 and a 200-day moving average price of $51.96.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $1.20 billion for 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 for the quarter was down 14.3% compared to the same quarter last year. During the same period last year, the company earned $1.66 earnings per share. Equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WFRD shares. Melius Research started coverage on Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective on the stock. Melius started coverage on Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective on the stock. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Finally, 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. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Weatherford International presently has a consensus rating of "Moderate Buy" and an average price target of $99.70.

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.

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