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

SIR Capital Management L.P. bought a new stake in Weatherford International PLC (NASDAQ:WFRD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 58,200 shares of the company’s stock, valued at approximately $4,555,000. SIR Capital Management L.P. owned about 0.08% of Weatherford International as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in Weatherford International in the fourth quarter valued at about $26,000. Leonteq Securities AG bought a new stake in shares of Weatherford International during the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 253 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Weatherford International by 69.8% in the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after buying an additional 240 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Weatherford International in the third quarter valued at approximately $41,000. Institutional investors own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

WFRD has been the subject of several recent research reports. The Goldman Sachs Group upped their price objective on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Piper Sandler upped their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada initiated coverage on Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.67.

Weatherford International Price Performance

Shares of WFRD opened at $101.31 on Friday. Weatherford International PLC has a 52-week low of $46.20 and a 52-week high of $113.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The business’s 50 day moving average price is $104.02 and its two-hundred day moving average price is $94.16. The firm has a market cap 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.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that Weatherford International PLC will post 6.13 EPS for the current year.

Weatherford International Dividend Announcement

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

About Weatherford International

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.