Invesco Ltd. Boosts Stock Position in Weatherford International PLC $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. grew its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,746 shares of the company's stock after acquiring an additional 29,840 shares during the quarter. Invesco Ltd. owned about 2.05% of Weatherford International worth $79,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WFRD. Russell Investments Group Ltd. increased its holdings in shares of Weatherford International by 4.8% during the fourth quarter. Russell Investments Group Ltd. now owns 41,996 shares of the company's stock valued at $3,008,000 after acquiring an additional 1,918 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Weatherford International by 150.7% during the fourth quarter. Bank of Montreal Can now owns 15,982 shares of the company's stock valued at $1,145,000 after buying an additional 9,607 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Weatherford International during the fourth quarter valued at $7,215,000. Treasurer of the State of North Carolina boosted its position in shares of Weatherford International by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after buying an additional 200 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Weatherford International by 83.3% during the fourth quarter. Barclays PLC now owns 57,454 shares of the company's stock valued at $4,114,000 after buying an additional 26,105 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $0.95 on Thursday, hitting $57.31. The stock had a trading volume of 554,878 shares, compared to its average volume of 885,945. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. 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's 50-day simple moving average is $54.53 and its two-hundred day simple moving average is $52.68. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $111.23.

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

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's payout ratio is presently 15.48%.

Analyst Ratings Changes

WFRD has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Melius initiated coverage on Weatherford International in a research report on Wednesday. They issued a "buy" rating and a $108.00 target price on the stock. Melius Research initiated coverage on Weatherford International in a research report on Wednesday. They issued a "buy" rating and a $108.00 target price on the stock. Finally, Barclays dropped their target price 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. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.