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Analyzing Wall Street's Forecast for Weatherford International

PART:
1 2 3 4 5
Analyzing Wall Street's Forecast for Weatherford International PART 1 OF 5

How Much Did Weatherford Fall in the Past Year?

Weatherford’s stock price

In the past year, Weatherford International (WFT) stock fell 20% until March 17, 2017. During this period, Weatherford underperformed the VanEck Vectors Oil Services ETF (OIH), which generated ~11% returns. OIH tracks an index of 25 OFS (oilfield equipment and services) companies. The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, produced 9% returns in the past year. Weatherford International also underperformed the SPDR S&P 500 ETF (SPY). SPY produced 16% returns during the same period. The Dow Jones Industrial Average (DJIA-INDEX) rose 19% in the past year.

In the past year, the West Texas Intermediate crude oil price rose 21%. The hike in crude oil prices partially explains OIH’s rise. Read Exhausted Energy: Why Energy ETFs Could Plunge to learn more.

How Much Did Weatherford Fall in the Past Year?

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What can drive Weatherford in the future?

  • Weatherford won a one-year extendable contract in the Gulf of Mexico.
  • In the North Sea in Europe, Weatherford won a three-year contract for integrated services on a drilling rig.
  • Weatherford owns a three-year coiled tubing services contract for a national oil company in the Middle East. Read Will Weatherford’s Debt Repayment Plan Include Asset Sales? to learn more.

Weatherford’s alliance with Nabors

The OFS industry saw a number of merger and acquisition activities in the past few months—including FMC Technologies’ merger with Technip to form TechnipFMC (FTI). Read Is FMC Technologies’ Merger with Technip Almost Complete? to learn more. Weatherford agreed to form an alliance with Nabors Industries (NBR). Read Nabors’ Alliance with Weatherford: How Did the Market Respond? to learn more.

Series overview

In this series, we’ll look at Weatherford’s correlation with crude oil, investors’ short interest in Weatherford stock, and analysts’ recommendations. We’ll start with Weatherford’s implied volatility.

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