First Hawaiian Bank Makes New Investment in Weatherford International plc (NASDAQ:WFRD)

First Hawaiian Bank acquired a new position in Weatherford International plc (NASDAQ:WFRD) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,500 shares of the company’s stock, valued at approximately $1,653,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Weatherford International in the 4th quarter valued at approximately $89,762,000. Boston Partners increased its holdings in shares of Weatherford International by 19.3% in the 1st quarter. Boston Partners now owns 2,722,281 shares of the company’s stock valued at $315,240,000 after acquiring an additional 439,700 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Weatherford International by 5,525.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock worth $41,501,000 after buying an additional 353,177 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Weatherford International during the 1st quarter worth $24,527,000. Finally, Jennison Associates LLC grew its stake in Weatherford International by 17.6% during the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock worth $125,675,000 after buying an additional 191,855 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Trading Down 4.9 %

Shares of NASDAQ WFRD traded down $5.16 during mid-day trading on Monday, hitting $100.51. 1,537,443 shares of the company traded hands, compared to its average volume of 887,612. Weatherford International plc has a 1 year low of $80.52 and a 1 year high of $135.00. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.72 and a beta of 0.63. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $119.81 and a two-hundred day moving average of $114.21.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. On average, sell-side analysts anticipate that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.99%. The ex-dividend date is Tuesday, August 13th. Weatherford International’s payout ratio is currently 16.18%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WFRD shares. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research note on Wednesday, July 24th. Raymond James reduced their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Bank of America boosted their price target on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup assumed coverage on Weatherford International in a research report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target for the company. Finally, Piper Sandler upped their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $153.88.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.