Weatherford International PLC (NASDAQ:WFRD) Position Lowered by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly reduced its stake in Weatherford International PLC by 79.6%, now holding approximately 52,954 shares after selling 206,600 shares during the first quarter.
• Weatherford International recently reported a quarterly earnings per share (EPS) of $1.87, exceeding analysts' expectations by $0.90, although revenue declined 14.3% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with a yield of 1.8%, to be paid on September 4th to investors of record on August 6th.

TD Asset Management Inc trimmed its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 79.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,954 shares of the company's stock after selling 206,600 shares during the period. TD Asset Management Inc owned approximately 0.07% of Weatherford International worth $2,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in Weatherford International by 1,002.0% during the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after buying an additional 992 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Weatherford International during the first quarter worth about $445,000. GAMMA Investing LLC lifted 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 during the period. Diversified Trust Co purchased a new stake in Weatherford International in the 1st quarter valued at approximately $419,000. Finally, Hara Capital LLC acquired a new position in Weatherford International during the 1st quarter worth approximately $1,845,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Up 2.0%

Weatherford International stock traded up $1.11 during trading on Monday, reaching $55.85. 632,878 shares of the company's stock were exchanged, compared to its average volume of 1,363,366. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $111.23. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.58 and a beta of 0.77. 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 company's 50-day moving average is $52.10 and its two-hundred day moving average is $53.69.

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

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be issued 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 yield of 1.8%. Weatherford International's dividend payout ratio is currently 15.48%.

Analysts Set New Price Targets

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

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.