What the Market Suggests for Weatherford as of April 7

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What the Market Suggests for Weatherford as of April 7 PART 1 OF 3

How Much Weatherford Has Fallen in a Year

Weatherford stock and the industry

In the past year, as of April 7, 2017, Weatherford International (WFT) stock has fallen 12.0%. In that period, WFT has also underperformed the VanEck Vectors Oil Services ETF (OIH), which has risen ~17.0%. OIH tracks an index of 25 OFS (oilfield services and equipment) companies.

The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, has risen 13.0% in the past year. Weatherford International has also underperformed the SPDR S&P 500 ETF (SPY), which has risen 15.0% in the same period. The Dow Jones Industrial Average (DJIA-INDEX) has risen 17.0% in the past year. The energy sector makes up 6.3% of the Dow Jones Industrial Average (DJIA-INDEX).

How Much Weatherford Has Fallen in a Year

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Crude oil prices

In the past year, WTI (West Texas Intermediate) crude oil has recovered 32.0%. The hike in crude oil partially explains the rise in OIH. Higher crude oil prices also prompted a revival in the US rig count, which rose 89.0% in the past year. Read what’s happening in the energy market in Market Realist’s US Crude Oil Is above $52: What to Expect from Energy ETFs.

Weatherford forms alliance with Schlumberger and Nabors

On March 24, 2017, Schlumberger (SLB) and Weatherford International announced they would form a joint venture (or JV) 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 has 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 could drive Weatherford in the future?

  • Weatherford won a one-year extendable contract in the US Gulf of Mexico.
  • In the North Sea in Europe, WFT won a three-year contract for integrated services on a drilling rig.
  • WFT owns a 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 of this series, we’ll see what WFT’s implied volatility suggests for its stock price.


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