Nuveen LLC Makes New 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 purchased a new position in Weatherford International PLC (NASDAQ:WFRD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 320,598 shares of the company's stock, valued at approximately $17,168,000. Nuveen LLC owned approximately 0.44% of Weatherford International at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in Weatherford International by 1,002.0% during the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock valued at $58,000 after acquiring an additional 992 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Weatherford International during the first quarter valued at approximately $445,000. GAMMA Investing LLC raised its position in Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after acquiring an additional 231 shares in the last quarter. Diversified Trust Co bought a new position in Weatherford International during the first quarter valued at approximately $419,000. Finally, Hara Capital LLC bought a new position in Weatherford International during the first quarter valued at approximately $1,845,000. Institutional investors own 97.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler raised shares of 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 report on Monday, July 28th. Melius Research assumed coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective on the stock. Citigroup cut their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Barclays lowered their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.70.

Weatherford International Stock Performance

Shares of Weatherford International stock traded down $0.42 during midday trading on Tuesday, hitting $61.56. The company had a trading volume of 1,078,819 shares, compared to its average volume of 805,666. The business's 50 day simple moving average is $55.09 and its two-hundred day simple moving average is $52.50. The stock has a market cap of $4.42 billion, a PE ratio of 9.53, a P/E/G ratio of 1.79 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $108.43.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data 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. The business 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%. Weatherford International's quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. As a group, equities analysts predict that Weatherford International PLC will post 5.89 EPS for the current fiscal 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 dividend payout ratio (DPR) is presently 15.48%.

Weatherford International Company Profile

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.