Petrus Trust Company LTA Buys Shares of 4,188 Weatherford International PLC $WFRD

Key Points

• Petrus Trust Company LTA acquired a new stake in Weatherford International PLC, purchasing 4,188 shares valued at approximately $224,000.
• Weatherford International reported an earnings per share (EPS) of $1.87 for the last quarter, significantly beating analysts' estimates by $0.90.
• The company announced a quarterly dividend of $0.25, representing an annualized yield of 1.6% and a payout ratio of 15.48%.

Petrus Trust Company LTA purchased a new stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,188 shares of the company's stock, valued at approximately $224,000.

A number of other large investors have also added to or reduced their stakes in WFRD. BNP Paribas Financial Markets bought a new stake in Weatherford International in the 4th quarter valued at $3,028,000. Deutsche Bank AG raised its stake in Weatherford International by 2,351.2% in the 4th quarter. Deutsche Bank AG now owns 130,576 shares of the company's stock valued at $9,353,000 after acquiring an additional 125,249 shares during the period. Ethic Inc. raised its stake in Weatherford International by 112.2% in the 4th quarter. Ethic Inc. now owns 10,618 shares of the company's stock valued at $761,000 after acquiring an additional 5,615 shares during the period. Gotham Asset Management LLC raised its stake in Weatherford International by 67.0% in the 4th quarter. Gotham Asset Management LLC now owns 103,132 shares of the company's stock valued at $7,387,000 after acquiring an additional 41,361 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Weatherford International in the 4th quarter valued at $1,077,000. Institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

NASDAQ:WFRD traded up $0.23 during trading hours on Monday, hitting $62.53. The company's stock had a trading volume of 76,477 shares, compared to its average volume of 1,269,688. The stock has a fifty day simple moving average of $58.23 and a 200-day simple moving average of $51.96. The company has a market capitalization of $4.49 billion, a P/E ratio of 9.68, a PEG ratio of 1.70 and a beta of 0.78. 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 twelve month low of $36.74 and a twelve month high of $98.21.

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

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were given a $0.25 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's dividend payout ratio (DPR) is currently 15.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WFRD. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Barclays reduced their target price on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Melius initiated coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price on the stock. Melius Research initiated coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price on the stock. Finally, Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.