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What the Market Is Suggesting for Weatherford as of April 13

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What the Market Is Suggesting for Weatherford as of April 13 PART 1 OF 4

How Much Weatherford Fell in the Year through April 13

Weatherford stock and the industry

In the past year, Weatherford International (WFT) stock has fallen 17.0% as of April 13, 2017. It underperformed the VanEck Vectors Oil Services ETF (OIH), which has risen ~8.0%. OIH tracks 25 OFS (oilfield services and equipment) companies. The Energy Select Sector SPDR ETF (XLE), the broader energy industry fund, also rose 8.0% that year, and the SPDR S&P 500 ETF (SPY) rose 12.0%. The Dow Jones Industrial Average (DJIA-INDEX) has risen 14.0% in the same period. The energy sector makes up 6.3% of the DJIA-INDEX.

Crude oil prices

In the past year, WTI (West Texas Intermediate) crude oil has recovered 27.0%. The hike in crude oil prices partially explains the rise in OIH. Read more on crude oil price dynamics in Market Realist’s A key investor’s guide to the crude oil market.

How Much Weatherford Fell in the Year through April 13

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Weatherford forms alliance with Schlumberger and Nabors

On March 24, 2017, Schlumberger (SLB) and Weatherford International announced they would form a JV (joint venture) called OneStimSM. Read more on this and the latest updates on SLB in Market Realist’s What to Expect from Schlumberger Stock after JV with Weatherford.

Weatherford also agreed to form an alliance with Nabors Industries (NBR). Read more on this in Market Realist’s Nabors’ Alliance with Weatherford: How Did the Market Respond?

What can drive Weatherford in the future?

  • one-year extendable contract in the US Gulf of Mexico
  • three-year contract for integrated services on a drilling rig in the North Sea in Europe
  • three-year coiled-tubing services contract for a national oil company in the Middle East.

You can find out more about WFT in Market Realist’s Will Weatherford’s Debt Repayment Plan Include Asset Sales?

In the next part, let’s look at WFT’s implied volatility and what it suggests for the stock.

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