Nuveen LLC Makes New $17.17 Million Investment in Weatherford International PLC $WFRD

Key Points

• Nuveen LLC has purchased a new stake of 320,598 shares in Weatherford International PLC, valued at approximately $17.17 million, representing about 0.44% ownership as of the end of the most recent quarter.
• Several hedge funds increased their stakes in Weatherford, with Signaturefd LLC showing a significant increase of 1,002% in its holdings during the first quarter.
• Weatherford recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 1.8% and a payout ratio of 15.48%.

Nuveen LLC acquired a new stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 320,598 shares of the company's stock, valued at approximately $17,168,000. Nuveen LLC owned about 0.44% of Weatherford International as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WFRD. Fifth Third Bancorp boosted its stake in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. GAMMA Investing LLC increased its holdings in Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares in the last quarter. Signaturefd LLC increased its holdings in Weatherford International by 1,002.0% in the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after purchasing an additional 992 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Weatherford International in the first quarter valued at approximately $62,000. Finally, Covestor Ltd boosted its holdings in shares of Weatherford International by 34.3% during the 1st quarter. Covestor Ltd now owns 1,244 shares of the company's stock worth $67,000 after buying an additional 318 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Up 6.1%

NASDAQ:WFRD traded up $3.52 on Friday, hitting $60.83. The stock had a trading volume of 790,757 shares, compared to its average volume of 822,323. 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 52 week low of $36.74 and a 52 week high of $111.23. The company has a market cap of $4.37 billion, a PE ratio of 9.42, a P/E/G ratio of 1.76 and a beta of 0.77. The business's fifty day moving average is $54.69 and its 200 day moving average is $52.65.

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

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Weatherford International's payout ratio is presently 15.48%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lowered 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $62.00 to $73.00 in a report on Monday, July 28th. Melius Research initiated coverage on Weatherford International in a research note on Wednesday. They issued a "buy" rating and a $108.00 target price for the company. Finally, Barclays dropped their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note 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 company currently has a consensus rating of "Moderate Buy" and an average 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.