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Weatherford: What the Market Suggested on March 31

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Weatherford: What the Market Suggested on March 31 PART 1 OF 3

Weatherford’s Stock Price Fell in the Past Year

Weatherford’s stock price compared to the industry

In the past year, Weatherford International (WFT) stock fell 11% until March 31, 2017. Weatherford underperformed the VanEck Vectors Oil Services ETF (OIH), which generated ~19% returns. OIH is an ETF tracking an index of 25 oilfield equipment and services companies. The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, had 14% returns in the past year. Weatherford International also underperformed the SPDR S&P 500 ETF (SPY). SPY produced 14% returns during the same period. The Dow Jones Industrial Average (DJIA-INDEX) rose 16% in the past year.

Crude oil prices

In the past year, West Texas Intermediate crude oil prices recovered 38%. The hike in crude oil prices partially explains OIH’s rise. Read Crude Oil Prices: Is the Recovery Sustainable? to learn more.

Weatherford&#8217;s Stock Price Fell in the Past Year

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Weatherford forms alliance with Schlumberger and Nabors

On March 24, Schlumberger (SLB) and Weatherford International announced that they would form a JV (joint venture) called “OneStimSM.” Read What to Expect from Schlumberger Stock after JV with Weatherford to learn more. Weatherford also agreed to form an alliance with Nabors Industries (NBR). Read Nabors’ Alliance with Weatherford: How Did the Market Respond? to learn more.

What could 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.

In the next part, we’ll discuss what Weatherford International’s implied volatility suggests for its stock price.

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