Tejara Capital Ltd Purchases Shares of 34,900 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 acquired a new position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 34,900 shares of the company's stock, valued at approximately $1,869,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WFRD. Capital Research Global Investors grew its position in Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock valued at $425,894,000 after acquiring an additional 4,443,823 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Weatherford International by 181.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock worth $93,334,000 after purchasing an additional 840,456 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Weatherford International by 67.1% during the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock worth $64,343,000 after purchasing an additional 482,352 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Weatherford International by 76.7% in the fourth quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock valued at $65,011,000 after buying an additional 393,955 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Weatherford International by 4.5% in the first 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 during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of WFRD stock traded down $0.31 during mid-day trading on Tuesday, hitting $56.32. 528,834 shares of the stock traded hands, compared to its average volume of 1,321,585. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The company's 50-day simple moving average is $54.26 and its 200-day simple moving average is $52.67. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $111.23.

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

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Weatherford International's payout ratio is currently 15.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays dropped 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. Citigroup reduced their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reiterated an "outperform" rating and set a $70.00 target price (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Finally, Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.63.

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.