Weatherford International PLC $WFRD Shares Purchased by Interval Partners LP

Key Points

• Interval Partners LP increased its stake in Weatherford International PLC by 61.8% during the first quarter, now owning 43,796 shares valued at approximately $2.35 million.
• Weatherford International reported $1.87 earnings per share (EPS) for the latest quarter, significantly exceeding expected EPS of $0.97, despite a 14.3% decline in revenue year-over-year.
• The company announced a $0.25 quarterly dividend, reflecting a 1.6% dividend yield and a payout ratio of 15.48%.

Interval Partners LP boosted its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 61.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,796 shares of the company's stock after acquiring an additional 16,720 shares during the period. Interval Partners LP owned about 0.06% of Weatherford International worth $2,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in Weatherford International by 546.7% in 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 period. Brooklyn Investment Group grew its stake in Weatherford International by 30,600.0% in 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 period. GAMMA Investing LLC grew its stake in Weatherford International by 55.8% in 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 period. Quarry LP grew its stake in Weatherford International by 188.6% in 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 period. Finally, Signaturefd LLC grew its stake in Weatherford International by 1,002.0% in the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after acquiring an additional 992 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Trading Up 0.3%

Shares of NASDAQ WFRD traded up $0.16 during trading on Tuesday, hitting $61.92. 518,389 shares of the company traded hands, compared to its average volume of 1,286,678. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $98.21. The company has a 50-day moving average price of $57.53 and a 200-day moving average price of $51.98. The firm has a market capitalization of $4.45 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.81 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.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the company earned $1.66 EPS. The business's quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company 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. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Weatherford International's payout ratio is currently 15.48%.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Melius Research initiated coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 target price for the company. Melius initiated coverage on shares of Weatherford International in a research note 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 note on Monday, August 25th. Finally, Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and a consensus 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.