Weatherford International PLC $WFRD Position Increased by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its position in Weatherford International PLC (NASDAQ:WFRD) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,086 shares of the company’s stock after acquiring an additional 6,085 shares during the period. Weatherford International comprises about 1.3% of Penn Capital Management Company LLC’s portfolio, making the stock its 27th largest holding. Penn Capital Management Company LLC’s holdings in Weatherford International were worth $18,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in shares of Weatherford International by 3,125.3% in the 2nd quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock valued at $5,846,000 after purchasing an additional 69,507 shares during the period. Baird Financial Group Inc. lifted its stake in Weatherford International by 11.9% in the 2nd quarter. Baird Financial Group Inc. now owns 156,542 shares of the company’s stock valued at $12,758,000 after purchasing an additional 16,605 shares during the last quarter. Readystate Asset Management LP bought a new position in Weatherford International during the second quarter worth about $15,269,000. California Public Employees Retirement System grew its holdings in Weatherford International by 13.8% during the first quarter. California Public Employees Retirement System now owns 171,477 shares of the company’s stock worth $16,218,000 after purchasing an additional 20,803 shares during the period. Finally, Tidal Investments LLC grew its holdings in Weatherford International by 19.3% during the second quarter. Tidal Investments LLC now owns 89,847 shares of the company’s stock worth $7,323,000 after purchasing an additional 14,537 shares during the period. Institutional investors own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Weatherford International from $106.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings raised Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. UBS Group reduced their target price on Weatherford International from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Piper Sandler reduced their target price on Weatherford International from $118.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, Royal Bank Of Canada decreased their target price on Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $115.57.

Weatherford International Stock Performance

NASDAQ WFRD opened at $85.50 on Tuesday. The firm has a 50-day moving average of $84.61 and a 200-day moving average of $92.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market cap of $6.20 billion, a PE ratio of 15.24, a P/E/G ratio of 1.46 and a beta of 0.83. Weatherford International PLC has a 52-week low of $68.49 and a 52-week high of $113.15.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 20th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. Weatherford International had a net margin of 8.64% and a return on equity of 22.39%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. Weatherford International’s revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Weatherford International PLC will post 5.57 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 6th will be given a dividend of $0.2750 per share. The ex-dividend date is Friday, November 6th. This represents a $1.10 annualized dividend and a yield of 1.3%. Weatherford International’s dividend payout ratio (DPR) is 19.61%.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention.

The company’s products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.