Dockside LLC Takes Position in Weatherford International PLC $WFRD

Dockside LLC purchased a new stake in shares of Weatherford International PLC (NASDAQ:WFRD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 42,494 shares of the company’s stock, valued at approximately $3,326,000.

Several other institutional investors have also added to or reduced their stakes in WFRD. Holocene Advisors LP boosted its position in Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after buying an additional 1,443,512 shares during the period. Goldman Sachs Group Inc. boosted its position in Weatherford International by 1,040.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after buying an additional 1,135,338 shares during the period. Norges Bank purchased a new stake in Weatherford International during the 4th quarter valued at $61,399,000. Barclays PLC boosted its position in Weatherford International by 1,096.6% during the 4th quarter. Barclays PLC now owns 855,752 shares of the company’s stock valued at $66,971,000 after buying an additional 784,237 shares during the period. Finally, Millennium Management LLC boosted its position in Weatherford International by 154.3% during the 3rd quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after buying an additional 703,401 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Up 0.3%

Shares of NASDAQ WFRD opened at $101.31 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83. Weatherford International PLC has a 12 month low of $46.20 and a 12 month high of $113.15. The firm has a market capitalization of $7.29 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 0.91 and a beta of 0.82. The firm has a fifty day simple moving average of $104.02 and a two-hundred day simple moving average of $94.16.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts expect that Weatherford International PLC will post 6.13 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 6th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is presently 17.21%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WFRD. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Piper Sandler increased their price target on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Barclays increased their price target on shares of Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup upped their price objective on shares of Weatherford International from $134.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and an average price target of $110.67.

Weatherford International Company 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.