Interval Partners LP Has $2.35 Million Holdings in Weatherford International PLC $WFRD

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. Encompass Capital Advisors LLC purchased a new stake in shares of Weatherford International during the 1st quarter valued at approximately $27,355,000. Bank of New York Mellon Corp grew its stake in shares of Weatherford International by 67.1% during the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock worth $64,343,000 after purchasing an additional 482,352 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Weatherford International by 76.7% during the fourth quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock worth $65,011,000 after purchasing an additional 393,955 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Weatherford International by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after purchasing an additional 347,584 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in shares of Weatherford International by 135.2% during the fourth quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock worth $41,932,000 after purchasing an additional 336,504 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Performance

NASDAQ WFRD traded down $0.44 during trading hours on Thursday, hitting $63.38. 138,891 shares of the stock were exchanged, compared to its average volume of 1,277,303. 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 stock has a 50-day moving average of $57.90 and a 200 day moving average of $52.13. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $98.21. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the company posted $1.66 EPS. The company's revenue was down 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Weatherford International PLC will post 5.89 earnings per share 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 given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Weatherford International's payout ratio is presently 15.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WFRD shares. Zacks Research upgraded shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Melius Research started coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price for the company. Raymond James Financial reiterated an "outperform" rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Finally, Barclays decreased their target price on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note 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's stock. Based on data from MarketBeat, the stock currently has an average 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.