Truvestments Capital LLC Has $68,000 Stock Holdings in Weatherford International PLC $WFRD

Key Points

• Truvestments Capital LLC reduced its holdings in Weatherford International PLC by 79.1%, now owning only 1,263 shares after selling 4,785 shares in the first quarter.
• Weatherford's quarterly earnings exceeded expectations, reporting $1.87 EPS compared to the consensus estimate of $0.97, alongside revenue of $1.20 billion.
• The firm announced a quarterly dividend of $0.25, which will be paid to investors on September 4th, reflecting an annualized yield of 1.6%.

Truvestments Capital LLC lowered its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 79.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,263 shares of the company's stock after selling 4,785 shares during the quarter. Truvestments Capital LLC's holdings in Weatherford International were worth $68,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WFRD. Bank of New York Mellon Corp raised its holdings in shares of Weatherford International by 67.1% in the first 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 during the last quarter. Janus Henderson Group PLC lifted its position in shares of Weatherford International by 76.7% during the fourth quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock worth $65,011,000 after purchasing an additional 393,955 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Weatherford International by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock valued at $431,104,000 after purchasing an additional 347,584 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Weatherford International by 135.2% in the fourth quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock valued at $41,932,000 after purchasing an additional 336,504 shares in the last quarter. Finally, Fiera Capital Corp raised its position in Weatherford International by 1,465.4% in the 1st quarter. Fiera Capital Corp now owns 352,740 shares of the company's stock worth $18,889,000 after purchasing an additional 330,206 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

Analyst Ratings Changes

WFRD has been the topic of a number of recent research reports. Citigroup decreased 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. Melius Research began coverage on Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price target on the stock. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Melius began coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price on the stock. Finally, Barclays lowered their price target on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Trading Up 1.4%

Weatherford International stock traded up $0.91 during mid-day trading on Tuesday, hitting $64.62. 558,422 shares of the company's stock were exchanged, compared to its average volume of 1,296,821. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $101.96. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $4.64 billion, a P/E ratio of 10.00, a PEG ratio of 1.84 and a beta of 0.78. The company's 50 day simple moving average is $56.18 and its 200-day simple moving average is $52.23.

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

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's payout ratio is currently 15.48%.

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.