Penn Capital Management Company LLC Lowers Stake in Weatherford International PLC $WFRD

Penn Capital Management Company LLC lowered its holdings in Weatherford International PLC (NASDAQ:WFRD) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,065 shares of the company’s stock after selling 37,927 shares during the quarter. Weatherford International accounts for about 1.8% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 2nd biggest position. Penn Capital Management Company LLC owned about 0.40% of Weatherford International worth $22,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 240 shares during the period. Leonteq Securities AG bought a new stake in Weatherford International in the fourth quarter valued at about $39,000. Aster Capital Management DIFC Ltd bought a new stake in Weatherford International in the third quarter valued at about $41,000. Finally, Johnson Financial Group Inc. bought a new stake in Weatherford International in the third quarter valued at about $52,000. Institutional investors own 97.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WFRD. The Goldman Sachs Group boosted their price target on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Barclays boosted 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. Zacks Research lowered shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada began coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Piper Sandler boosted 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. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and an average target price of $110.33.

Weatherford International Price Performance

NASDAQ:WFRD opened at $108.84 on Wednesday. The firm has a market cap of $7.83 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. Weatherford International PLC has a 12 month low of $42.75 and a 12 month high of $113.15. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $101.20 and its two-hundred day moving average price is $91.59.

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

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 6th. Weatherford International’s dividend payout ratio is presently 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.