Royal Bank of Canada Boosts Stake in Weatherford International PLC

Royal Bank of Canada significantly increased its stake in Weatherford International PLC (NASDAQ:WFRD) during the first quarter, according to the company's latest disclosure with the Securities and Exchange Commission (SEC). The institution acquired an additional 18,384 shares, bringing its total holdings to 60,324. This represents a 43.8% increase from the previous quarter.

Weatherford International reported $0.55 earnings per share for the second quarter, missing analysts' expectations of $0.90 by $0.35. The company's quarterly revenue was down 8.2% on a year-over-year basis.

The institutional investors are not the only ones showing interest in Weatherford International. Insiders have sold a total of 26,094 shares worth $2,244,487 over the last ninety days. Director Jacqueline C. Mutschler sold 4,094 shares for $370,507.00 on August 10th, and Director Neal P. Goldman sold 16,000 shares for $1,357,440.00 on July 23rd.