18,680 Shares in Weatherford International PLC $WFRD Bought by Scientech Research LLC

Key Points

• Scientech Research LLC has acquired a new stake in Weatherford International PLC, purchasing 18,680 shares valued at around $1,000,000 during the first quarter.
• Recent analyst ratings show mixed sentiments, with Piper Sandler upgrading Weatherford from "neutral" to "overweight" and raising the price target from $62 to $73, while Citigroup downgraded its price target to $70.
• Weatherford recently announced a quarterly dividend of $0.25, reflecting an annualized dividend yield of 1.6%, with a payout ratio of 15.48%.

Scientech Research LLC bought a new stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,680 shares of the company's stock, valued at approximately $1,000,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Weatherford International by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock valued at $431,104,000 after buying an additional 347,584 shares in the last quarter. Invesco Ltd. increased its position in Weatherford International by 2.0% in the 1st quarter. Invesco Ltd. now owns 1,485,746 shares of the company's stock valued at $79,562,000 after buying an additional 29,840 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Weatherford International by 13.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company's stock valued at $78,940,000 after buying an additional 171,124 shares in the last quarter. Bank of New York Mellon Corp increased its position in Weatherford International by 67.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock valued at $64,343,000 after buying an additional 482,352 shares in the last quarter. Finally, Millennium Management LLC increased its position in Weatherford International by 429.2% in the 1st quarter. Millennium Management LLC now owns 1,103,067 shares of the company's stock valued at $59,069,000 after buying an additional 894,636 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded up $0.16 during trading on Tuesday, hitting $61.92. 518,389 shares of the company were exchanged, compared to its average volume of 813,874. The company has a market cap of $4.45 billion, a PE ratio of 9.59, a P/E/G ratio of 1.69 and a beta of 0.78. The stock has a 50 day moving average of $57.73 and a 200 day moving average of $52.05. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $98.21. 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 (NASDAQ:WFRD - Get Free Report) last posted its earnings results 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 firm had revenue of $1.20 billion for 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 quarter in the prior year, the business posted $1.66 earnings per share. As a group, equities research analysts predict that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on WFRD shares. Melius initiated coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company. 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 for the company in a report on Thursday, July 24th. Citigroup reduced their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, 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 report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company 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.