Tejara Capital Ltd Invests $1.87 Million in Weatherford International PLC $WFRD

Key Points

• Tejara Capital Ltd has acquired 34,900 shares of Weatherford International PLC, valued at approximately $1.87 million, as part of its investment strategy in the first quarter.
• Weatherford reported strong earnings with an EPS of $1.87, significantly exceeding expectations, while the company's revenue fell 14.3% year-over-year to $1.20 billion.
• The firm declared a quarterly dividend of $0.25 per share, translating to an annual yield of 1.8%, with a payout ratio of 15.48%.

Tejara Capital Ltd purchased a new stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 34,900 shares of the company's stock, valued at approximately $1,869,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Weatherford International by 4.8% in the fourth quarter. Russell Investments Group Ltd. now owns 41,996 shares of the company's stock worth $3,008,000 after acquiring an additional 1,918 shares in the last quarter. Bank of Montreal Can grew its position in shares of Weatherford International by 150.7% in the 4th quarter. Bank of Montreal Can now owns 15,982 shares of the company's stock worth $1,145,000 after acquiring an additional 9,607 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Weatherford International in the fourth quarter worth $7,215,000. Treasurer of the State of North Carolina boosted its stake in Weatherford International by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after acquiring an additional 200 shares during the period. Finally, Townsquare Capital LLC boosted its position in Weatherford International by 7.2% during the 4th quarter. Townsquare Capital LLC now owns 20,699 shares of the company's stock valued at $1,483,000 after purchasing an additional 1,397 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of WFRD stock traded up $0.04 during trading hours on Wednesday, hitting $56.36. The company had a trading volume of 619,283 shares, compared to its average volume of 966,881. The firm's fifty day moving average is $54.44 and its 200 day moving average is $52.73. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $111.23. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21.

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

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. Weatherford International's dividend payout ratio (DPR) is presently 15.48%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WFRD shares. Barclays reduced their price objective 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. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and increased their target price for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Melius assumed coverage on shares of Weatherford International in a research note on Wednesday. They set a "buy" rating and a $108.00 price objective for the company. Melius Research initiated coverage on Weatherford International in a report on Wednesday. They issued a "buy" rating and a $108.00 target price for the company. Finally, Citigroup reduced 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 report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and an average price target of $99.70.

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.