SIR Capital Management L.P. Acquires Shares of 58,200 Weatherford International PLC $WFRD

by · The Cerbat Gem

SIR Capital Management L.P. acquired a new stake in Weatherford International PLC (NASDAQ:WFRD – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 58,200 shares of the company’s stock, valued at approximately $4,555,000.

A number of other large investors have also recently made changes to their positions in WFRD. Royal Bank of Canada lifted its stake in shares of Weatherford International by 223.0% in the first quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock valued at $6,568,000 after buying an additional 84,684 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Weatherford International by 129.3% during the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock worth $7,695,000 after buying an additional 81,046 shares in the last quarter. United Services Automobile Association bought a new stake in Weatherford International during the first quarter worth $258,000. Cetera Investment Advisers grew its holdings in Weatherford International by 26.8% during the second quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock worth $642,000 after buying an additional 2,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 in the last quarter. 97.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Royal Bank Of Canada assumed coverage on Weatherford International in a report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target for the company. The Goldman Sachs Group upped their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Finally, Piper Sandler upped their price target on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.67.

View Our Latest Stock Report on Weatherford International

Weatherford International Trading Up 0.3%

Shares of Weatherford International stock opened at $101.31 on Friday. The company has a market capitalization of $7.29 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 0.91 and a beta of 0.82. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $104.02 and a 200 day simple moving average of $94.16. Weatherford International PLC has a 12-month low of $46.20 and a 12-month high of $113.15.

Weatherford International (NASDAQ:WFRD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion during 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 business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, sell-side analysts anticipate that Weatherford International PLC will post 6.13 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

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

About Weatherford International

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding WFRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weatherford International PLC (NASDAQ:WFRD – Free Report).