Oldfield Partners LLP Has $32.80 Million Stock Holdings in Southwest Airlines Co. $LUV

Oldfield Partners LLP lifted its holdings in Southwest Airlines Co. (NYSE:LUV) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,000 shares of the airline’s stock after acquiring an additional 4,200 shares during the quarter. Southwest Airlines makes up approximately 11.3% of Oldfield Partners LLP’s holdings, making the stock its 5th largest holding. Oldfield Partners LLP owned about 0.19% of Southwest Airlines worth $32,797,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Southwest Airlines during the second quarter worth $31,000. Pandora Wealth Inc. bought a new position in shares of Southwest Airlines in the first quarter valued at about $34,000. Hantz Financial Services Inc. lifted its position in Southwest Airlines by 81.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock worth $34,000 after buying an additional 474 shares in the last quarter. Cheviot Value Management LLC bought a new stake in Southwest Airlines during the 1st quarter worth about $42,000. Finally, Armstrong Advisory Group Inc. acquired a new stake in Southwest Airlines in the 2nd quarter valued at about $42,000. Institutional investors own 80.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LUV shares. HSBC cut shares of Southwest Airlines from a “hold” rating to a “reduce” rating in a research note on Thursday, July 24th. Susquehanna increased their price objective on Southwest Airlines from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Jefferies Financial Group lifted their target price on Southwest Airlines from $30.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Hsbc Global Res raised Southwest Airlines to a “moderate sell” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Southwest Airlines from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $33.38.

Southwest Airlines Stock Up 3.0%

Shares of NYSE LUV opened at $32.45 on Friday. Southwest Airlines Co. has a 52-week low of $23.82 and a 52-week high of $37.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.49. The stock has a market cap of $16.78 billion, a P/E ratio of 49.93, a P/E/G ratio of 0.75 and a beta of 1.23. The firm has a 50 day moving average price of $32.11 and a 200 day moving average price of $32.05.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Tuesday, February 6th. The airline reported ($0.38) earnings per share for the quarter. Southwest Airlines had a return on equity of 6.39% and a net margin of 1.38%.The firm had revenue of $6.17 billion for the quarter. Analysts expect that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines announced that its Board of Directors has initiated a stock repurchase program on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to purchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Southwest Airlines Company Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.