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What the Market Suggested about Weatherford on November 10

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What the Market Suggested about Weatherford on November 10 PART 1 OF 3

How Weatherford Stock Performed Last Week

Weatherford stock price compared to industry and crude oil

Between November 3 and November 10, 2017, Weatherford International (WFT) stock rose 2%. The VanEck Vectors Oil Services ETF (OIH) has generated 4% returns in this period. So, WFT has underperformed OIH in the past week. On November 10, 2017, the West Texas Intermediate (or WTI) crude oil price was 2% higher than the WTI crude oil price on November 3, 2017. Read more on what’s been happening in the energy market in Market Realist’s Are Russia and the US New Problems for the Crude Oil Market?

Oilfield services companies like Schlumberger’s (SLB) and TechnipFMC’s (FTI) stock prices have fallen in 2017 despite the rising crude oil price. Read about FTI in Could Guidance Change Affect TechnipFMC in 2017? Nine US rigs came online last week. Since November 11, 2016, the US rig count has risen 60%, led primarily by rising crude oil prices.How Weatherford Stock Performed Last Week

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The Energy Select Sector SPDR ETF (XLE) has generated 1% returns since November 3, 2017. The SPDR S&P 500 ETF (SPY) also underperformed Weatherford during the same period. The Dow Jones Industrial Average (DJIA-INDEX) remained unchanged in the last week.

What affected WFT’s returns in 3Q17?

  • recovery from the Canadian spring breakup
  • favorable product mix in the North Sea
  • loss of non-repeating product sales in Brazil

Read more about WFT in Market Realists’ WFT, FMSA, and SPN: Did Their 3Q17 Results Impress Investors? and What’s Keeping Weatherford Down despite Margin Improvement?

Next, we’ll discuss what WFT’s implied volatility means for its stock price.

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