Weatherford International PLC $WFRD Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 429.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,103,067 shares of the company's stock after purchasing an additional 894,636 shares during the period. Millennium Management LLC owned approximately 1.52% of Weatherford International worth $59,069,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in Weatherford International in the 4th quarter valued at about $3,028,000. Deutsche Bank AG lifted its holdings in Weatherford International by 2,351.2% in the fourth quarter. Deutsche Bank AG now owns 130,576 shares of the company's stock worth $9,353,000 after acquiring an additional 125,249 shares during the last quarter. Ethic Inc. lifted its holdings in Weatherford International by 112.2% in the fourth quarter. Ethic Inc. now owns 10,618 shares of the company's stock worth $761,000 after acquiring an additional 5,615 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Weatherford International by 67.0% during the fourth quarter. Gotham Asset Management LLC now owns 103,132 shares of the company's stock valued at $7,387,000 after buying an additional 41,361 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $1,077,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $62.50 on Monday. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $98.21. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The firm's 50-day moving average price is $57.30 and its two-hundred day moving average price is $52.00. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 1.81 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS 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 for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. Weatherford International's revenue was down 14.3% compared to the same quarter last year. On average, equities analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is presently 15.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. 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 decreased their target price 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. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Melius initiated coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a "buy" rating and a $108.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Weatherford International 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.

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