Maverick Capital Ltd. Purchases 8,169 Shares of Weatherford International PLC $WFRD

Key Points

• Maverick Capital Ltd. increased its stake in Weatherford International PLC by 196.1%, acquiring a total of 12,334 shares worth $660,000 as of the most recent quarter.
• Weatherford International recently announced a quarterly dividend of $0.25, resulting in an annualized yield of 1.6%.
• Analysts have given Weatherford International stock a consensus rating of "Moderate Buy" with a target price averaging $99.70.

Maverick Capital Ltd. lifted its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 196.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,334 shares of the company's stock after acquiring an additional 8,169 shares during the quarter. Maverick Capital Ltd.'s holdings in Weatherford International were worth $660,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC grew its stake in Weatherford International by 1.4% in the 1st quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after buying an additional 228 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after purchasing an additional 231 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Weatherford International by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company's stock worth $1,473,000 after acquiring an additional 245 shares during the last quarter. Covestor Ltd raised its position in Weatherford International by 34.3% in the 1st quarter. Covestor Ltd now owns 1,244 shares of the company's stock worth $67,000 after purchasing an additional 318 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Weatherford International by 20.7% during the first quarter. TD Private Client Wealth LLC now owns 2,360 shares of the company's stock worth $126,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on WFRD shares. Melius Research started 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 began coverage on shares of Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price for the company. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Barclays dropped their price objective on shares of 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Trading Up 0.5%

NASDAQ:WFRD traded up $0.31 during mid-day trading on Thursday, hitting $62.67. 1,051,477 shares of the company's stock were exchanged, compared to its average volume of 804,801. The firm has a market capitalization of $4.50 billion, a P/E ratio of 9.70, a PEG ratio of 1.80 and a beta of 0.78. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $98.21. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $57.05 and a 200-day simple moving average of $52.33.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The company's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 EPS. As a group, research analysts expect 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 paid a $0.25 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Weatherford International's payout ratio is currently 15.48%.

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.