Westwood Holdings Group Inc. Boosts Stock Holdings in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Westwood Holdings Group Inc. raised its stake in Weatherford International PLC by 17.9%, purchasing an additional 28,848 shares in the first quarter, bringing its total to 189,913 shares valued at approximately $10.17 million.
• Weatherford International reported a net margin of 9.35% and a quarterly EPS of $1.87, significantly exceeding analyst expectations, though revenue declined by 14.3% year-over-year.
• The company will pay a quarterly dividend of $0.25 per share, equating to an annual yield of 1.8%, with the dividend payout ratio standing at 15.48%.

Westwood Holdings Group Inc. raised its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,913 shares of the company's stock after acquiring an additional 28,848 shares during the quarter. Westwood Holdings Group Inc. owned about 0.26% of Weatherford International worth $10,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its holdings in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 257 shares during the period. Fifth Third Bancorp increased its holdings in shares of Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the period. GAMMA Investing LLC increased its holdings in shares of Weatherford International by 55.8% in the first 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. Covestor Ltd increased its holdings in shares of Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after purchasing an additional 214 shares during the period. Finally, Mattson Financial Services LLC bought a new position in shares of Weatherford International in the fourth quarter worth $73,000. Institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

WFRD traded up $0.15 during trading on Friday, reaching $55.44. The stock had a trading volume of 661,194 shares, compared to its average volume of 1,045,518. The stock has a market cap of $3.98 billion, a PE ratio of 8.58, a PEG ratio of 1.60 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. Weatherford International PLC has a one year low of $36.74 and a one year high of $111.23. The business has a 50-day moving average of $53.16 and a 200-day moving average of $53.23.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (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 during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The company's revenue was down 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, August 6th. Weatherford International's dividend payout ratio is presently 15.48%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WFRD shares. Citigroup decreased their price target 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. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Barclays decreased their price target on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Weatherford International has an average rating of "Moderate Buy" and a consensus price target of $97.63.

Weatherford International Company 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.