Weatherford International PLC $WFRD Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Weatherford International PLC by 129.3% in the first quarter, acquiring an additional 81,046 shares to own about 0.20% of the company, valued at approximately $7.7 million.
• Weatherford International reported quarterly earnings of $1.87 EPS, significantly surpassing analysts' expectations of $0.97, despite a 14.3% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.25 per share, equating to an annual yield of 1.6%, with a current payout ratio of 15.48%.

Goldman Sachs Group Inc. raised its holdings in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 129.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,703 shares of the company's stock after acquiring an additional 81,046 shares during the period. Goldman Sachs Group Inc. owned approximately 0.20% of Weatherford International worth $7,695,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Gradient Investments LLC raised its holdings in Weatherford International by 1.4% in the 1st quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after acquiring an additional 228 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Weatherford International by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company's stock worth $1,473,000 after purchasing an additional 245 shares during the period. Covestor Ltd boosted its holdings in Weatherford International by 34.3% in the first quarter. Covestor Ltd now owns 1,244 shares of the company's stock valued at $67,000 after purchasing an additional 318 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in Weatherford International by 20.7% in the first quarter. TD Private Client Wealth LLC now owns 2,360 shares of the company's stock valued at $126,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Trading Down 0.7%

NASDAQ WFRD opened at $62.30 on Friday. 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 firm has a market cap of $4.48 billion, a PE ratio of 9.64, a P/E/G ratio of 1.71 and a beta of 0.78. Weatherford International PLC has a one year low of $36.74 and a one year high of $98.21. The firm's fifty day moving average is $58.23 and its two-hundred day moving average is $52.03.

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

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were paid a $0.25 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Weatherford International's payout ratio is currently 15.48%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WFRD shares. Melius started coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating and set a $70.00 price target (up from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Zacks Research upgraded shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Barclays cut their price target on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Piper Sandler upgraded shares of 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. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $99.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.