Mackenzie Financial Corp Has $1.18 Million Stock Holdings in Weatherford International PLC (NASDAQ:WFRD)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Weatherford International PLC by 47.1%, now owning $1.18 million worth of shares.
• Weatherford recently beat quarterly earnings estimates with an EPS of $1.87, surpassing expectations of $0.97, despite a year-over-year revenue decline of 14.3%.
• The company declared a quarterly dividend of $0.25, yielding an annualized amount of $1.00, translating to a dividend yield of 1.7%.

Mackenzie Financial Corp increased its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 47.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,063 shares of the company's stock after buying an additional 7,063 shares during the period. Mackenzie Financial Corp's holdings in Weatherford International were worth $1,181,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WFRD. Pictet Asset Management Holding SA boosted its position in Weatherford International by 3.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,616 shares of the company's stock worth $760,000 after buying an additional 383 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Weatherford International by 64.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 50,508 shares of the company's stock worth $3,618,000 after buying an additional 19,785 shares during the period. Huntington National Bank boosted its position in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after buying an additional 257 shares during the period. Russell Investments Group Ltd. boosted its position in Weatherford International by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 41,996 shares of the company's stock worth $3,008,000 after buying an additional 1,918 shares during the period. Finally, FMR LLC boosted its position in Weatherford International by 1.8% during the 4th quarter. FMR LLC now owns 3,638,934 shares of the company's stock worth $260,657,000 after buying an additional 65,931 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Up 0.3%

WFRD traded up $0.15 during midday trading on Friday, hitting $55.44. The company had a trading volume of 661,194 shares, compared to its average volume of 1,045,518. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $111.23. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.60 and a beta of 0.77. The stock's 50 day moving average price is $53.16 and its 200 day moving average price is $53.35.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The business's revenue was down 14.3% compared to the same quarter last year. On average, research analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 6th. Weatherford International's payout ratio is 15.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $62.00 to $73.00 in a research note on Monday, July 28th. Raymond James Financial reiterated an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Citigroup decreased their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays decreased their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.63.

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.