Weatherford International PLC $WFRD Shares Sold by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners LLC reduced its stake in Weatherford International PLC by 2.9%, owning 175,000 shares valued at approximately $9.37 million.
• Several large investors, including Quarry LP and Nomura Holdings Inc., increased their holdings in Weatherford, with 97.23% of the stock being owned by institutional investors.
• Weatherford recently reported $1.87 earnings per share, significantly surpassing analysts' expectations, and announced a quarterly dividend of $0.25 per share.

Steamboat Capital Partners LLC lowered its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the company's stock after selling 5,183 shares during the period. Weatherford International makes up approximately 2.8% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 15th biggest position. Steamboat Capital Partners LLC owned 0.24% of Weatherford International worth $9,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in 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 acquiring an additional 503 shares in the last quarter. Brooklyn Investment Group boosted 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 buying an additional 612 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 231 shares during the period. Quarry LP boosted its position in shares of Weatherford International by 188.6% during the first quarter. Quarry LP now owns 1,036 shares of the company's stock valued at $55,000 after buying an additional 677 shares during the period. Finally, Signaturefd LLC boosted its position in shares of 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 buying an additional 992 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

Shares of Weatherford International stock traded up $0.31 during trading hours on Thursday, reaching $62.67. The stock had a trading volume of 1,028,448 shares, compared to its average volume of 1,295,398. The stock's 50 day moving average is $56.80 and its 200 day moving average is $52.38. The firm has a market capitalization of $4.50 billion, a PE ratio of 9.70, a PEG ratio of 1.84 and a beta of 0.78. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $98.21. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03.

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

Weatherford International Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, August 6th. Weatherford International's dividend payout ratio is 15.48%.

Analyst Ratings Changes

WFRD has been the subject of several recent analyst reports. Barclays dropped their target price 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. Raymond James Financial restated an "outperform" rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Citigroup decreased their price target 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. Melius Research began coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Finally, Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently 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.