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What Did the Market Suggest for Weatherford on June 16?

PART:
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What Did the Market Suggest for Weatherford on June 16? PART 1 OF 4

How Much Did Weatherford Stock Fall in the Past Year?

Weatherford’s stock price 

In the past year, Weatherford International (WFT) stock fell 31% until June 16, 2017. In the past year, Weatherford has underperformed the VanEck Vectors Oil Services ETF (OIH), which has generated -13% returns. The WTI (West Texas Intermediate) crude oil price fell 7% during this period. To learn more, read A key investor’s guide to the crude oil market. Falling crude oil prices have caused oilfield services companies like Schlumberger (SLB) and Flotek Industries’ (FTK) stock prices to fall in 2017. Despite falling crude oil prices, the US rig count managed to stage a revival and rose 120% in the past year until June 16, 2017.

How Much Did Weatherford Stock Fall in the Past Year?

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Weatherford International has also underperformed the SPDR S&P 500 ETF (SPY), which generated 17% returns during the same period. The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, produced -3% returns in the past year until June 16, 2017. The Dow Jones Industrial Average (DJIA-INDEX) rose 21% in the past year. The energy sector makes up 6.1% of the DJIA-INDEX.

What will drive Weatherford’s returns in 2017?

  • revenue from US operations to accelerate in 2Q17
  • continued challenging environment in the offshore market in the Gulf of Mexico
  • lower product sales in the North Sea and Russia
  • incremental revenue from several projects in Latin America
  • Middle East and Asia region to rebound as new contracts ramp up

Read Nabors’ Alliance with Weatherford: How Did the Market Respond? to learn about Weatherford’s joint venture with Nabors Industries (NBR). In the next part, we’ll discuss what Weatherford’s implied volatility suggests for its stock price.

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