GeoSphere Capital Management LLC boosted its stake in shares of Weatherford International PLC (NASDAQ:WFRD – Free Report) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,500 shares of the company’s stock after buying an additional 17,500 shares during the period. Weatherford International accounts for about 1.1% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. GeoSphere Capital Management LLC’s holdings in Weatherford International were worth $3,326,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Leonteq Securities AG purchased a new stake in Weatherford International during the fourth quarter worth $39,000. EverSource Wealth Advisors LLC lifted its holdings in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after buying an additional 253 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Weatherford International by 69.8% during the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after buying an additional 240 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Weatherford International during the third quarter worth $41,000. Finally, Farther Finance Advisors LLC increased its position in shares of Weatherford International by 157.3% during the fourth quarter. Farther Finance Advisors LLC now owns 705 shares of the company’s stock worth $55,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on WFRD shares. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada started coverage on Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target on the stock. Piper Sandler upped their price target on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Barclays upped their price target on Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.33.
Weatherford International Price Performance
Shares of WFRD opened at $108.79 on Monday. The business’s 50-day moving average is $100.28 and its two-hundred day moving average is $91.09. The company has a market capitalization of $7.82 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. Weatherford International PLC has a fifty-two week low of $42.75 and a fifty-two week high of $113.15.
Weatherford International (NASDAQ:WFRD – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.47. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. Research analysts predict that Weatherford International PLC will post 6.13 earnings per share for the current year.
Weatherford International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is currently 17.21%.
Weatherford International Profile
Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.
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