Voya Investment Management LLC Has $3.36 Million Stock Position in Weatherford International PLC $WFRD

Key Points

• Voya Investment Management LLC has reduced its stake in Weatherford International by 71.2%, selling 155,129 shares, leaving it with ownership of approximately 62,754 shares valued at $3.36 million.
• Several institutional investors, including Millennium Management LLC and Vanguard Group Inc., have significantly increased their holdings in Weatherford International during the same period.
• Weatherford International reported a quarterly EPS of $1.87, surpassing analysts' estimates, though its revenue is down by 14.3% compared to last year.

Voya Investment Management LLC reduced its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 71.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,754 shares of the company's stock after selling 155,129 shares during the quarter. Voya Investment Management LLC owned 0.09% of Weatherford International worth $3,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of Weatherford International by 546.7% during the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after buying an additional 503 shares during the period. Brooklyn Investment Group grew its position in Weatherford International by 30,600.0% in the first quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after purchasing an additional 612 shares in the last quarter. GAMMA Investing LLC grew its position in Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. Mattson Financial Services LLC bought a new position in Weatherford International in the fourth quarter valued at $73,000. Finally, Quarry LP grew its position in Weatherford International by 188.6% in the first quarter. Quarry LP now owns 1,036 shares of the company's stock valued at $55,000 after purchasing an additional 677 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFRD has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Raymond James Financial reissued an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Melius Research started coverage on shares of Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 target price on the stock. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Trading Up 5.4%

Shares of WFRD traded up $3.46 during trading hours on Tuesday, hitting $67.84. 94,116 shares of the stock were exchanged, compared to its average volume of 1,256,268. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $98.21. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. The business has a 50-day moving average of $59.14 and a 200-day moving average of $52.27. The firm has a market capitalization of $4.87 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating 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 net margin of 9.35% and a return on equity of 34.87%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 earnings per share. On average, research analysts expect that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, August 6th. Weatherford International's payout ratio is presently 15.48%.

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.