Mackenzie Financial Corp Purchases New Stake in Weatherford International plc (NASDAQ:WFRD)

Mackenzie Financial Corp purchased a new position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the company's stock, valued at approximately $1,074,000.

Several other hedge funds also recently bought and sold shares of WFRD. Vanguard Group Inc. lifted its stake in shares of Weatherford International by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 7,702,911 shares of the company's stock valued at $551,760,000 after buying an additional 270,775 shares during the period. Capital Research Global Investors grew its stake in Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after acquiring an additional 4,443,823 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Weatherford International by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock valued at $315,375,000 after acquiring an additional 298,811 shares during the last quarter. FMR LLC lifted its stake in shares of 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 purchasing an additional 65,931 shares during the period. Finally, Boston Partners lifted its stake in shares of Weatherford International by 5.5% during the 4th quarter. Boston Partners now owns 2,777,128 shares of the company's stock worth $198,877,000 after purchasing an additional 144,396 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.

Insider Transactions at Weatherford International

In related news, Director Neal P. Goldman bought 12,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the acquisition, the director now owns 25,311 shares in the company, valued at $1,064,074.44. This represents a 90.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.09% of the company's stock.

Weatherford International Trading Down 0.5%

WFRD traded down $0.22 on Wednesday, reaching $46.61. 1,073,911 shares of the company's stock were exchanged, compared to its average volume of 1,178,042. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 1.65 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. Weatherford International plc has a twelve month low of $36.74 and a twelve month high of $135.00. The company's 50 day moving average is $45.16 and its 200-day moving average is $60.45.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities analysts predict that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International's dividend payout ratio is presently 16.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WFRD shares. Barclays dropped their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Raymond James cut Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $73.00 to $69.00 in a report on Thursday, April 24th. Citigroup cut their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Benchmark decreased their target price on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Piper Sandler dropped their price target on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.63.

About Weatherford International

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.