US Bancorp DE Lowers Stake in Weatherford International PLC $WFRD

Key Points

• US Bancorp DE reduced its stake in Weatherford International PLC by 76.9%, selling 7,641 shares and now holding 2,299 shares valued at $123,000.
• Weatherford International recently announced a quarterly dividend of $0.25 per share, with a yield of 1.8% and a payout ratio of 15.48%.
• The company's stock is currently trading at $55.29 and has a twelve-month range between $36.74 and $111.23.

US Bancorp DE lessened its stake in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 76.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,299 shares of the company's stock after selling 7,641 shares during the period. US Bancorp DE's holdings in Weatherford International were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of WFRD. Capital Research Global Investors raised its position in shares of Weatherford International by 295.9% during the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Weatherford International by 181.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock valued at $93,334,000 after acquiring an additional 840,456 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Weatherford International by 67.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock valued at $64,343,000 after acquiring an additional 482,352 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Weatherford International by 76.7% in the 4th quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock valued at $65,011,000 after acquiring an additional 393,955 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in Weatherford International by 135.2% in the 4th quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock valued at $41,932,000 after acquiring an additional 336,504 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Trading Up 6.1%

Shares of Weatherford International stock traded up $3.52 during mid-day trading on Friday, hitting $60.83. The stock had a trading volume of 790,757 shares, compared to its average volume of 822,323. The firm has a 50-day moving average of $54.69 and a two-hundred day moving average of $52.65. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $111.23. 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 cap of $4.37 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating 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 business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company posted $1.66 EPS. The business's revenue for the quarter was down 14.3% on a year-over-year basis. Sell-side analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

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 dividend of $0.25 per share. 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 1.6%. Weatherford International's dividend payout ratio (DPR) is presently 15.48%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Melius assumed coverage on shares of Weatherford International in a report on Wednesday. They issued a "buy" rating and a $108.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Citigroup cut their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $62.00 to $73.00 in a report on Monday, July 28th. Finally, Barclays cut their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and a consensus target price 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.