While it maintained its buy rating and $6 price target, it also said it sees Weatherford's land rig sale as a potential catalyst for the stock. Yet expectations for the company remain low overall due to delays in completing wells, low gas prices, and a big discount in the price of Canadian crude.
Full Answer
Is Weatherford a good stock to buy?
Weatherford stock earns the No. 11 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Chart Industries (GTLS), Cactus (WHD) and Baker Hughes (BKR) are among the top five highly rated stocks within the group.Jun 16, 2021
What happened to my Weatherford stock?
Weatherford was delisted from the New York Stock Exchange in May 2019, after Reuters reported that that the company has announced its decision to "file for Chapter 11 bankruptcy protection" in the same month. Weatherford's shares have been traded on the OTC market with the ticker WFTLF since then.May 17, 2021
Is Weatherford going out of business?
Weatherford, which had racked up $10 billion in debt, went more than four years without making a profit and declared Chapter 11 bankruptcy in July 2019.Jun 9, 2020
What happened Weatherford International?
The company filed voluntary chapter 11 petitions in the Southern District of Texas in July 2019, along with two subsidiaries. The petitions listed assets of more than $1 billion. In December 2019, Weatherford announced that it completed its financial restructuring and emerged from Chapter 11 protection.
Who bought Weatherford International?
CSL Capital Management, L.P.BAAR, SWITZERLAND, April 30, 2019 - Weatherford International plc (NYSE: WFT) (the “Company” or “Weatherford”) today announced it has completed the sale of its laboratory services business to a group led by CSL Capital Management, L.P. (“CSL Capital”) for $206 million in cash.Apr 30, 2019
What is Weatherford?
Weatherford is the leading wellbore and production solutions company, providing integrated solutions across well stages and customer domains to the oil and gas industry. We integrate trusted technologies with innovative ideas to help finish wells earlier and produce more for longer.
Did Schlumberger buy Weatherford?
Weatherford has sold its US pressure pumping and pump-down perforating assets to Schlumberger for $430 million in cash, abruptly ending a planned joint venture that was to begin operations on 1 January.Jan 1, 2018
Does Schlumberger own Weatherford?
The details. A Schlumberger subsidiary acquired Weatherford's U.S. pressure pumping and pump-down perforating assets, including related facilities plus supplier and customer contracts, according to a press release. About 100 Weatherford employees associated with the business unit will transfer to Schlumberger.Jan 5, 2018
What happened Weatherford?
Weatherford struggled to repay its debts, which totaled about $8.3 billion when it filed for bankruptcy protection in 2019. Then the coronavirus pandemic struck last year, just months after Weatherford emerged from chapter 11, decimating demand for oil and gas.Jun 2, 2021
Who are Weatherford's competitors?
Weatherford International competitors include Schlumberger, Halliburton, Oceaneering International and Baker Hughes.
Is Weatherford a good company to work for?
Weatherford is an excellent company to work for." "A good place to work and grow, provided the industry more stability than it has been over last one decade!" "Great place to work with competitive salaries and benefits. Upper management is incredibly diverse and focused on achieving success."
Does Weatherford operate in Russia?
Another oilfield services provider, Houston-based Weatherford International Plc, said Sunday that it has suspended all new investments and technology-deployments in Russia and placed a hold on shipments. Weatherford has no joint ventures or partners in Russia, CEO Girish Saligram said in a statement.Mar 20, 2022
The beleaguered oil-field service company postponed a key report
Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo
What happened
Volatility continued for shares of Weatherford International (NYSE: WFT) on Wednesday. The oil-field service specialist's stock fell more than 10% by 10:45 a.m. EDT after the company postponed the release of its first-quarter results.
So what
Weatherford International announced last night that it would postpone the release of its first-quarter results -- which it was supposed to unveil today -- until Friday morning. Furthermore, the company canceled its quarterly conference call. Weatherford didn't provide a reason for the change, which left investors to fear the worst.
Now what
Weatherford International has struggled mightily since oil prices crashed in 2014. The company hasn't made a profit in several years, which has eroded its financial profile.
Here we go again..
Energy, Materials, Transportation, and Industrial stocks commentary. Follow @TylerCroweFool
What happened
Shares of oil services giant Weatherford International (NYSE: WFT) are down 30.2% as of 2 p.m. EST today. While there has been no particular news pertaining specifically to the company, today is just another day for a stock that has repeatedly posted price swings of 20% or more over the past few weeks.
So what
It's strange that one of the 10 largest oil equipment and services companies in the world with $5.8 billion in annual revenue has become penny stock fodder. The issue that has landed Weatherford in this place has been years of mismanagement.
Now what
Weatherford's stock price is so low that it received a notice from the New York Stock Exchange that its shares are no longer in compliance with its listing standards (a stock can't trade below $1 for 30 consecutive days). So chances are company management will have to do something.
The financially challenged oilfield service company is trying to remain on a major stock exchange
Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo
What happened
Shares of Weatherford International (NYSE: WFT) tumbled nearly 15% by 2:45 p.m. EDT on Wednesday. Weighing on the beleaguered oilfield service company was its proposal to complete a reverse stock split to stay listed on the New York Stock Exchange (NYSE).
So what
Weatherford International's stock has done nothing but sink in recent years. Shares have plunged a sickening 84% over the past year due to concerns about its financial situation. That unrelenting selling pressure has pushed the stock's price below the $1-per-share mark in recent months.
Now what
Weatherford International has been working hard to turn around its operations and shore up its balance sheet. While its financial results did show some improvement during the fourth quarter, investors aren't buying into its turnaround just yet.
What happened
Shares of Weatherford International (NYSE: WFT) finished trading Monday down 9.8%, after falling as much as 13% in early afternoon trading.
So what
The reality for Weatherford is that the company is deeply troubled. Despite being one of the largest equipment and service providers in the oil and gas industry, Weatherford has struggled for years with poor cash flow.
Now what
As things stand today, one recent "good" quarter doesn't a turnaround make. Furthermore, there's a reasonable chance that it will prove to be too little, too late since Weatherford has a substantial amount of debt and other liabilities on its books, with much of that coming due within 12 months:
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The oil-field services company is benefiting from some analysts' bullishness
Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo
What happened
Shares of Weatherford International PLC (NYSE: WFT) closed Thursday up more than 12% on the heels of some positive commentary about the oil services company from analysts.
So what
On Wednesday, an analyst from Jefferies upgraded Weatherford's stock from underperform to hold, and gave it a $2.50 price target, which is still a few cents above where shares were trading this afternoon.
Now what
Weatherford International fell more than 60% over the past year, but analysts are starting to see some upside potential from here. If the company can indeed sell assets for a good price, that could be the catalyst that finally gets this stock out of its doldrums.
