In the fast-changing world of investment, details like acquisitions and quarterly earnings reports can hold great significance. Take for example the recent acquisition by Chapin Davis Inc., a US-based investment firm, of a new position in Weatherford International plc (NASDAQ:WFRD) during the first quarter of this year. The latest filing with the Securities and Exchange Commission (SEC) shows that Chapin Davis Inc. acquired 3,375 shares of the company’s stock valued at approximately $200,000.
Weatherford International is a multinational corporation that provides equipment and services to oil and natural gas exploration and production companies worldwide. Founded in 1941 in Texas, USA, it has grown to become one of the leading companies in its sector with three main operating segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI).
According to Weatherford International’s most recent quarterly earnings data released on Tuesday, April 25th, it reported $0.97 earnings per share (EPS) for the quarter – an amount that exceeded analysts’ expectations by $0.06. The company recorded a strong return on equity of 33.33% and a net margin of 3.89%. Revenue was also impressive coming in at $1.19 billion as compared to a consensus estimate of $1.13 billion.
One cannot underestimate how important it is for investors to closely follow these developments because they provide insights into what direction the markets are taking now and will take in future months or years ahead. Analysts predict that Weatherford International will post an EPS (earnings-per-share) of 4.78 for this year.
Despite volatile oil prices impacting performance across the oil and natural gas industry over recent years, Weatherford International has continued to be innovative in providing reliable solutions to their clients around the globe through technological advancement.
It comes as no surprise then why institutions such as Chapin Davis Inc. are taking interest in Weatherford International’s growth and potential for future returns. The acquisition of these shares by Chapin Davis Inc. reaffirms their commitment to identifying opportunities that can bring high yield dividends on their investments while supporting companies like Weatherford International on its path towards success.
As we witness the steady rebound in oil prices, it seems certain that investors such as Chapin Davis Inc. will keep a close eye on the progress made by Weatherford International in fulfilling its objectives while delivering shareholder value and profitable returns to its investors.
Institutional Investors Increase Positions in Weatherford International as CEO Sells Shares and Analysts Give Positive Outlook
Institutional investors have made a number of changes to their positions in Weatherford International, as evidenced by recent announcements revealing $6.87 million worth of acquisitions. As disclosed during the fourth quarter, Capital Fund Management S.A. purchased a new position valued at $1,805,000; Arizona State Retirement System increased its stake by 3.9%, equivalent to 630 shares valued at $862,000; Jackson Creek Investment Advisors LLC acquired a new position valued at about $1,130,000; and Neo Ivy Capital Management increased its stake in Weatherford International by 3,3440% after acquiring an additional 6,688 shares worth $351,000 during the same period. Another large-scale institutional investor is Mason Capital Management LLC who has gained an acquisition boost of up to a considerable 27.8%. This increase has seen them acquire an additional 376,228 shares worth roughly $55,869m.
It is now known that approximately 97.39% of all stock within Weatherford International is controlled or owned by institutional investors.
Weatherford International Plc provides equipment and services related to the exploration and production of oil and natural gas and operates through three distinct segments: Drilling & Evaluation (DRE); Well Construction & Completions (WCC); and Production & Intervention (PRI). DRE offers managed pressure drilling services such as wireline applications for formation evaluation optimization while WCC provide well abatement solutions for ensuring efficient drilling processes such as control systems which are then used for data acquisition through logging tools.
Notably on May 2nd this year Raymond James announced its coverage rating on Weatherford International stating that a “Strong Buy” approach was recommended accompanied with a target price objective of $100 – as opposed to Deutsche Bank Aktiengesellschaft lifting their price objective from $77 to $82 in April earlier this year citing market projections supporting the adjustment.
Furthermore, during May 23rd this year CEO of Weatherford International, Girish Saligram, sold 50,750 shares of the company’s stock in a $3,011,505 transaction. With this sale taking place at an average price of $59.34 it brought the CEO’s monetary value within the company to $53,103,900.06 relating to the overall franchise operations. Also noteworthy is that despite insider trading totaling 2.20% from executives at Weatherford International – The Street upgraded its rating from “D” to “C” for WFRD indicating it sees progress and improvement taking place with the company’s financial performance.
In conclusion with the current consensus target price currently being held at $84.57 there have been at least six buy and one strong buy recommendations made by investment analysts utilizing Bloomberg data for Weatherford international stock providing much strength and support behind their operations model from Wall St investors and reiterating a positive outlook for continued growth moving forward.
The post Chapin Davis Inc. Acquires Shares in Weatherford International plc: A Signal for Potential Growth and Returns appeared first on Best Stocks.
