GAMMA Investing LLC Boosts Stake in Weatherford International PLC $WFRD

GAMMA Investing LLC grew its stake in shares of Weatherford International PLC (NASDAQ:WFRD) by 66.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,071 shares of the company’s stock after purchasing an additional 426 shares during the period. GAMMA Investing LLC’s holdings in Weatherford International were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WFRD. Fifth Third Bancorp boosted its holdings in Weatherford International by 546.7% during the first quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock worth $32,000 after buying an additional 503 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after buying an additional 612 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Weatherford International by 196.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock worth $33,000 after acquiring an additional 433 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Weatherford International during the 2nd quarter worth approximately $43,000. Finally, Quarry LP boosted its stake in shares of 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 acquiring an additional 677 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays decreased their target price 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. Piper Sandler upgraded shares of Weatherford International from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Melius initiated coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Saturday, September 27th. Finally, Zacks Research raised shares of Weatherford International from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $99.70.

Weatherford International Stock Performance

Shares of WFRD stock opened at $65.64 on Friday. The company’s fifty day simple moving average is $61.44 and its 200-day simple moving average is $53.21. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $95.58. 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 company has a market cap of $4.71 billion, a PE ratio of 10.16, a P/E/G ratio of 1.79 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data 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 return on equity of 34.87% and a net margin of 9.35%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $1.66 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.5%. Weatherford International’s payout ratio is 15.48%.

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.