Monaco Asset Management SAM Invests $1.02 Million in Weatherford International PLC (NASDAQ:WFRD)

Monaco Asset Management SAM bought a new position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,000 shares of the company's stock, valued at approximately $1,017,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Treasurer of the State of North Carolina grew its holdings in shares of Weatherford International by 0.6% in 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 purchasing an additional 200 shares in the last quarter. Covestor Ltd boosted its holdings in Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares in the last quarter. Gradient Investments LLC grew its position in shares of Weatherford International by 1.4% during the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock worth $861,000 after acquiring an additional 228 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after buying an additional 231 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Weatherford International by 0.9% during the 1st 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 period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFRD. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Citigroup dropped their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Barclays reduced 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 note on Thursday, July 24th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Weatherford International presently has an average rating of "Moderate Buy" and a consensus price target of $97.63.

Weatherford International Price Performance

NASDAQ:WFRD traded down $1.81 on Friday, reaching $54.74. The stock had a trading volume of 977,378 shares, compared to its average volume of 1,036,229. 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 PLC has a 1-year low of $36.74 and a 1-year high of $111.23. The company has a market capitalization of $3.93 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. The stock has a fifty day moving average price of $52.10 and a 200-day moving average price of $53.92.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%. Weatherford International's revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Research analysts forecast that Weatherford International PLC will post 5.89 EPS 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) 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.