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 filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,000 shares of the company's stock, valued at approximately $1,017,000.

Several other large investors have also recently added to or reduced their stakes in WFRD. Commonwealth Equity Services LLC grew its stake in shares of Weatherford International by 123.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,484 shares of the company's stock valued at $679,000 after buying an additional 5,239 shares in the last quarter. Sei Investments Co. grew its stake in shares of Weatherford International by 4.7% in the fourth quarter. Sei Investments Co. now owns 95,587 shares of the company's stock valued at $6,847,000 after buying an additional 4,325 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Weatherford International by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company's stock valued at $551,760,000 after buying an additional 270,775 shares in the last quarter. Norges Bank acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $65,678,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $1,153,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James Financial restated an "outperform" rating and set a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $62.00 to $73.00 in a research note on Monday. Citigroup lowered their price objective on 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 lowered their price objective on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $97.63.

Weatherford International Trading Down 3.2%

Shares of Weatherford International stock traded down $1.81 on Friday, reaching $54.74. 977,378 shares of the company were exchanged, compared to its average volume of 1,368,404. The stock has a fifty day moving average price of $51.91 and a 200-day moving average price of $54.03. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $111.23.

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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. Weatherford International's revenue for the quarter was down 14.3% compared to the same quarter last year. On average, analysts expect 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 paid a $0.25 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Weatherford International's payout ratio is 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.