The Manufacturers Life Insurance Company Sells 1,970 Shares of Weatherford International plc (NASDAQ:WFRD)

The Manufacturers Life Insurance Company lessened its stake in Weatherford International plc (NASDAQ:WFRD) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,481 shares of the company’s stock after selling 1,970 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Weatherford International worth $4,711,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after buying an additional 85 shares during the period. GAMMA Investing LLC increased its holdings in Weatherford International by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after acquiring an additional 128 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Weatherford International by 20.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock valued at $129,000 after acquiring an additional 182 shares during the period. KBC Group NV lifted its holdings in Weatherford International by 10.4% during the third quarter. KBC Group NV now owns 1,945 shares of the company’s stock valued at $165,000 after purchasing an additional 184 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Weatherford International by 26.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company’s stock worth $116,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of WFRD opened at $77.58 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Weatherford International plc has a 12-month low of $76.84 and a 12-month high of $135.00. The company has a market cap of $5.64 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58. The stock has a 50-day moving average price of $85.39 and a 200-day moving average price of $102.31.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.66 EPS. As a group, equities analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Evercore ISI dropped their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Citigroup decreased their price objective on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Bank of America cut their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International presently has a consensus rating of “Buy” and an average price target of $147.29.

Weatherford International 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.