11,346 Shares in Weatherford International PLC $WFRD Bought by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. has made a new investment in Weatherford International PLC, acquiring 11,346 shares valued at approximately $571,000 during the second quarter.
• Weatherford International reported earnings of $1.87 per share for the last quarter, significantly beating analysts' expectations and generating a revenue of $1.20 billion.
• The company declared a $0.25 quarterly dividend, equating to an annualized dividend yield of 1.6%, indicating a healthy financial position.

Harbor Capital Advisors Inc. purchased a new stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,346 shares of the company's stock, valued at approximately $571,000.

Several other institutional investors and hedge funds have also made changes to their positions in WFRD. Nuveen Asset Management LLC raised its position in shares of Weatherford International by 3.7% during the 4th quarter. Nuveen Asset Management LLC now owns 331,585 shares of the company's stock valued at $23,751,000 after acquiring an additional 11,756 shares in the last quarter. Man Group plc raised its position in shares of Weatherford International by 91.6% during the 4th quarter. Man Group plc now owns 29,541 shares of the company's stock worth $2,116,000 after purchasing an additional 14,126 shares during the period. State of Wyoming raised its position in shares of Weatherford International by 1,438.5% during the 4th quarter. State of Wyoming now owns 4,077 shares of the company's stock worth $292,000 after purchasing an additional 3,812 shares during the period. Tidal Investments LLC raised its position in shares of Weatherford International by 82.4% during the 4th quarter. Tidal Investments LLC now owns 13,087 shares of the company's stock worth $937,000 after purchasing an additional 5,914 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Weatherford International by 111.9% during the 4th quarter. Squarepoint Ops LLC now owns 108,780 shares of the company's stock worth $7,792,000 after purchasing an additional 57,447 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFRD shares. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Barclays dropped their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Raymond James Financial reiterated an "outperform" rating and set a $70.00 price target (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Finally, Melius Research started coverage on Weatherford International in a research report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Stock Up 5.4%

Shares of Weatherford International stock traded up $3.46 during midday trading on Tuesday, hitting $67.84. The company's stock had a trading volume of 94,116 shares, compared to its average volume of 1,256,268. The firm has a market capitalization of $4.87 billion, a P/E ratio of 10.53, a PEG ratio of 1.74 and a beta of 0.78. The stock has a 50-day simple moving average of $59.14 and a 200-day simple moving average of $52.27. 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 PLC has a 1-year low of $36.74 and a 1-year high of $98.21.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued 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 business had revenue of $1.20 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. As a group, sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is 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.