Impact Partnership Wealth LLC Makes New $475,000 Investment in Weatherford International PLC $WFRD

Impact Partnership Wealth LLC bought a new position in Weatherford International PLC (NASDAQ:WFRD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,071 shares of the company’s stock, valued at approximately $475,000.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after buying an additional 253 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after buying an additional 240 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Weatherford International during the 4th quarter valued at about $39,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Weatherford International during the 3rd quarter valued at about $41,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Weatherford International during the 3rd quarter valued at about $52,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WFRD shares. The Goldman Sachs Group lifted their price objective on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Weiss Ratings cut Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Citigroup lifted their price objective on Weatherford International from $115.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Piper Sandler lifted their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.33.

Weatherford International Stock Down 0.2%

NASDAQ WFRD opened at $103.64 on Friday. The stock’s 50 day moving average is $102.28 and its 200 day moving average is $92.13. 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 $42.75 and a 12 month high of $113.15. The stock has a market cap of $7.45 billion, a PE ratio of 16.22, a P/E/G ratio of 0.93 and a beta of 0.87.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Research analysts predict that Weatherford International PLC will post 6.13 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 6th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.1%. Weatherford International’s payout ratio 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.