Invesco Ltd. Grows Holdings in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Invesco Ltd. increased its holdings in Weatherford International PLC by 2.0%, owning approximately 1,485,746 shares worth $79,562,000 at the end of the most recent reporting period.
• The company reported a quarterly earnings per share (EPS) of $1.87, significantly beating the consensus estimate of $0.97, despite a year-over-year revenue decline of 14.3%.
• Weatherford International announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 1.8% with a payout ratio of 15.48%.

Invesco Ltd. increased its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,485,746 shares of the company's stock after buying an additional 29,840 shares during the period. Invesco Ltd. owned about 2.05% of Weatherford International worth $79,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Weatherford International by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after buying an additional 347,584 shares during the period. Capital Research Global Investors increased its position in shares of Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Weatherford International by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock worth $315,375,000 after purchasing an additional 298,811 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Weatherford International by 181.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock worth $93,334,000 after purchasing an additional 840,456 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Weatherford International by 10.3% in the 4th quarter. Capital World Investors now owns 1,298,137 shares of the company's stock worth $92,986,000 after purchasing an additional 121,153 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Trading Down 2.1%

NASDAQ WFRD opened at $55.29 on Friday. Weatherford International PLC has a one year low of $36.74 and a one year high of $111.23. The company has a 50-day simple moving average of $54.11 and a 200-day simple moving average of $52.89. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a market capitalization of $3.97 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77.

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

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's payout ratio is presently 15.48%.

Wall Street Analysts Forecast Growth

WFRD has been the subject of several research analyst reports. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Barclays dropped 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 report on Thursday, July 24th. Citigroup dropped their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.63.

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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