Intech Investment Management LLC Has $7.42 Million Holdings 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 lifted its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,471 shares of the company's stock after buying an additional 13,234 shares during the quarter. Intech Investment Management LLC owned approximately 0.19% of Weatherford International worth $7,415,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WFRD. Fifth Third Bancorp lifted its stake in Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the period. Brooklyn Investment Group increased its stake in shares of Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after buying an additional 612 shares during the period. GAMMA Investing LLC grew its stake 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 last quarter. Quarry LP grew its position in Weatherford International by 188.6% during the 1st quarter. Quarry LP now owns 1,036 shares of the company's stock worth $55,000 after purchasing an additional 677 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Weatherford International by 1,002.0% in the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock valued at $58,000 after acquiring an additional 992 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WFRD. Melius started coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Piper Sandler raised Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, 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 report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Stock Performance

WFRD stock traded up $0.34 during trading on Wednesday, reaching $64.48. 155,615 shares of the stock were exchanged, compared to its average volume of 1,261,940. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $98.21. The company has a market capitalization of $4.63 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The stock has a 50 day simple moving average of $58.54 and a 200-day simple moving average of $52.04. 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 (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, topping analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business earned $1.66 earnings per share. The firm's revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date was 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.