State of Alaska Department of Revenue Acquires 18,605 Shares of Weatherford International PLC $WFRD

Key Points

• The State of Alaska Department of Revenue increased its stake in Weatherford International PLC by 67.6%, now owning 46,135 shares valued at approximately $2.32 million.
• Weatherford International reported a quarterly EPS of $1.87, significantly beating analysts' expectations, and had a revenue of $1.20 billion for the quarter.
• The company recently declared a quarterly dividend of $0.25 per share, translating to an annual yield of 1.4% and a payout ratio of 15.48%.

State of Alaska Department of Revenue increased its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 67.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,135 shares of the company's stock after acquiring an additional 18,605 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Weatherford International worth $2,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust lifted its stake in shares of Weatherford International by 2,392.0% in the 2nd quarter. American National Bank & Trust now owns 623 shares of the company's stock valued at $31,000 after purchasing an additional 598 shares during the period. Fifth Third Bancorp raised its stake in shares of Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after acquiring an additional 612 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Weatherford International by 196.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company's stock valued at $33,000 after acquiring an additional 433 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 purchasing an additional 231 shares during the period. Institutional investors own 97.23% of the company's stock.

Weatherford International Trading Up 2.1%

Shares of Weatherford International stock opened at $69.87 on Thursday. 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 twelve month low of $36.74 and a twelve month high of $95.58. The business has a 50-day moving average price of $61.10 and a 200-day moving average price of $53.05. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.87 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating analysts' consensus estimates 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 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. Equities research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International's payout ratio is currently 15.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Melius Research began coverage on Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective on the stock. Finally, Melius started coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target on the stock. 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, Weatherford International currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.70.

Weatherford International 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.

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