Intech Investment Management LLC Has $7.42 Million Stake in Weatherford International PLC $WFRD

Key Points

• Intech Investment Management LLC increased its holdings in Weatherford International by 10.6% during the 1st quarter, owning 138,471 shares valued at approximately $7,415,000.
• Weatherford International's latest earnings report revealed earnings per share (EPS) of $1.87, significantly exceeding analyst expectations of $0.97, despite a year-over-year revenue decline of 14.3%.
• Raymond James Financial and Piper Sandler have recently upgraded their ratings on Weatherford International, indicating a consensus rating of "Moderate Buy" with an average target price around $99.70.

Intech Investment Management LLC grew its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 10.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,471 shares of the company's stock after purchasing an additional 13,234 shares during the quarter. Intech Investment Management LLC owned about 0.19% of Weatherford International worth $7,415,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WFRD. Fifth Third Bancorp lifted its stake in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the period. Brooklyn Investment Group lifted its stake in shares of Weatherford International by 30,600.0% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after purchasing an additional 612 shares during the period. GAMMA Investing LLC lifted its stake in shares of Weatherford International by 55.8% in the 1st 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. Quarry LP lifted its stake in shares of Weatherford International by 188.6% in the 1st quarter. Quarry LP now owns 1,036 shares of the company's stock valued at $55,000 after purchasing an additional 677 shares during the period. Finally, Signaturefd LLC raised its stake 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 period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Performance

Weatherford International stock traded down $0.90 during midday trading on Monday, reaching $61.40. 474,874 shares of the company's stock were exchanged, compared to its average volume of 1,272,110. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $98.21. 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 $4.41 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 1.70 and a beta of 0.78. The stock's 50-day simple moving average is $58.23 and its 200 day simple moving average is $51.96.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.Weatherford International's quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. On average, analysts expect 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. Shareholders of record on Wednesday, August 6th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's dividend payout ratio (DPR) is 15.48%.

Analyst Ratings Changes

Several analysts recently commented on the company. Melius Research assumed coverage on Weatherford International in a research note on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective on the stock. Barclays dropped their price objective 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 raised Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Zacks Research raised Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently 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.