New Age Alpha Advisors LLC Has $2.50 Million Stake in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• New Age Alpha Advisors LLC increased its stake in Weatherford International PLC by 190.1%, owning approximately 46,675 shares valued at $2.50 million.
• Weatherford International recently announced a quarterly dividend of $0.25 per share, which equates to an annual yield of 1.8%.
• Equities analysts currently rate Weatherford International with an average rating of "Moderate Buy" and a price target averaging $97.63.

New Age Alpha Advisors LLC grew its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 190.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,675 shares of the company's stock after purchasing an additional 30,585 shares during the period. New Age Alpha Advisors LLC owned approximately 0.06% of Weatherford International worth $2,499,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WFRD. Huntington National Bank raised its position in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after acquiring an additional 257 shares in the last quarter. Fifth Third Bancorp raised its position in Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after acquiring an additional 503 shares in the last quarter. GAMMA Investing LLC raised its position in Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after acquiring an additional 231 shares in the last quarter. Covestor Ltd raised its position in Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after acquiring an additional 214 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in Weatherford International in the fourth quarter worth about $73,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays dropped their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Citigroup dropped their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.63.

Weatherford International Stock Up 0.3%

NASDAQ:WFRD traded up $0.15 on Friday, hitting $55.44. 661,194 shares of the company's stock traded hands, compared to its average volume of 1,045,518. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $111.23. The firm has a 50-day moving average price of $53.16 and a 200-day moving average price of $53.35. The company has a market cap of $3.98 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its 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 return on equity of 34.87% and a net margin of 9.35%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The business's revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

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

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.