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Wire

Weatherford International Poised to Benefit From Post-Conflict Recovery, UBS Securities Says

Weatherford International's (WFRD) recent underperformance was due to near-term Middle East headwinds, but this pressure is temporary and a post-conflict recovery is expected to drive a meaningful acceleration in reigon activity, UBS Securities said in a note Wednesday.The brokerage said the company is also well positioned to benefit from growing offshore and deepwater development activity, while improving Pemex collections support higher cash flow.The pending NCSM acquisition also offers value creation opportunity through cost synergies and international expansion, with the company expected to hit its more than $15 million cost synergy target in 2027, according to the note.UBS Securities upgraded Weatherford International to buy from neutral, and raised the price target to $114 from $113.Price: $83.29, Change: $-0.29, Percent Change: -0.35%

$WFRD
Research

UBS Upgrades Weatherford International to Buy From Neutral, Raises Price Target to $114 From $113

Weatherford International (WFRD) has an average rating of overweight and mean price target of $119.45, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$WFRD
Insider Trading

Weatherford International Insider Sold Shares Worth $1,357,426, According to a Recent SEC Filing

Neal P Goldman, Director, on July 23, 2026, sold 16,000 shares in Weatherford International (WFRD) for $1,357,426. Following the Form 4 filing with the SEC, Goldman has control over a total of 12,187 ordinary shares of the company, with 12,187 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1603923/000121277426000004/xslF345X05/wk-form4_1785184943.xml

$WFRD
Insider Trading

Weatherford International Insider Sold Shares Worth $516,540, According to a Recent SEC Filing

Benjamin Duster, Director, on July 23, 2026, sold 6,000 shares in Weatherford International (WFRD) for $516,540. Following the Form 4 filing with the SEC, Duster has control over a total of 11,187 ordinary shares of the company, with 11,187 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1603923/000131307126000012/xslF345X05/wk-form4_1785185024.xml

$WFRD
Wire

Weatherford's Margin Discipline Sets Up Stronger Outlook, RBC Says

Weatherford International (WFRD) is positioned for stronger free-cash-flow generation and peer-leading growth, supported by margin discipline, RBC Capital Markets said Wednesday in a report.Weatherford lifted its full-year cash-conversion guidance to the mid-to-high-40% range and reiterated confidence in reaching a 50% through-cycle target, even as Middle East disruptions continue to weigh on rig activity, the report said.RBC said it remains bullish on the stock, pointing to Weatherford's growth outlook and attractive valuation. It lifted its EBITDA estimates to $992 million for 2026 and $1.15 billion for 2027, and introduced a 2028 forecast of $1.24 billion.RBC maintained its outperform rating on Weatherford stock and its $124 price target.Price: $85.08, Change: $-2.04, Percent Change: -2.34%

$WFRD
Commodities

Weatherford Q2 Results Highlight Global Contract Wins, Sees Stronger H2

Weatherford International (WFRD) reported Tuesday its Q2 results, highlighting several global contract awards, an agreement to acquire NCS Multistage and an improving second-half outlook despite continued geopolitical headwinds.Weatherford secured managed pressure drilling contracts from Noble Corporation (NE) in Nigeria and Constellation Oil Services, Ventura Offshore and Valaris (VAL) in Brazil. The Valaris award covers two years.The company also won a three-year, 247-well integrated drilling services contract from Petroleum Development Oman, a five-year framework agreement with Chevron (CVX) in Australia, a 22-month contract with PTTEP Thailand, and two five-year contracts from Kuwait Oil.The company also agreed to acquire NCS Multistage, expecting at least $15 million in annual cost savings within 18 months of closing.Management said H2 2026 margins should improve despite ongoing uncertainty in the Middle East, although it expects activity to recover gradually as regional stability returns.Weatherford also expects its proposed redomestication to Delaware to deliver $20 million to $30 million in annual cash savings beginning in 2027, subject to shareholder approval.Drilling and evaluation segment revenue declined to $291 million for the quarter ended June 30, compared with $335 million a year earlier, while well construction and completions revenue decreased to $433 million from $456 million.

$CVX$NE$VAL$WFRD
Commodities

Energy Stocks Remain Undervalued Despite Long-Term Oil, Gas Outlook, UBS Says

UBS maintained a positive long-term outlook for crude oil and natural gas, saying energy stocks remain undervalued despite improving commodity fundamentals, the firm said in a note on Monday.UBS continues to expect stronger 2027 crude oil and natural gas prices than implied by current forward strips of $71 per barrel for West Texas Intermediate and $3.35 per million British thermal units for Henry Hub.The firm assessed producers across scenarios ranging from $55-$65/bbl Brent, $51-$81/bbl WTI and $2.75-$4.25/MMBtu Henry Hub.Using an 8% free cash flow-to-enterprise value yield and a 5.5x enterprise value-to-EBITDA sector midpoint, UBS estimates exploration and production stocks currently reflect $60 WTI and $3.50 Henry Hub for 2027.Under a $75 Brent and $3.75 Henry Hub scenario, oil producers would generate an average 12.2% free cash flow-to-enterprise value yields and trade at 3.9x enterprise value-to-EBITDA.Gas producers, excluding Comstock Resources (CRK), would generate an average 11.5% free cash flow-to-enterprise value yield and trade at 4.6x enterprise value-to-EBITDA, UBS said.The same commodity deck would leave year-end 2027 net debt-to-EBITDA at about 0.2x to 0.3x if companies maintain current capital return programs.UBS said those valuations remain below the historical 4.5x to 6.5x range, implying more than 20% upside to the 5.5x midpoint.A $10/bbl move in crude oil and a $0.50/MMBtu change in Henry Hub prices would shift average free cash flow-to-enterprise value yields by 450 to 480 basis points.Enterprise value-to-EBITDA multiples could move 0.5x to 0.7x or more, particularly for gas producers, UBS said.UBS kept capital spending and production assumptions unchanged, although WTI prices below $60/bbl and Henry Hub prices below $3/MMBtu would likely prompt exploration and production companies to reduce both investment and output.Since the conflict began, the S&P 500 Energy Index has gained 1.3% but has trailed the broader S&P 500 by 8%. During the same period, front-month WTI has risen 16%, the 2027 WTI forward strip has gained 15%, while the 2027 Henry Hub strip has fallen 10.3%, UBS said.UBS said energy-sector valuations have weakened since the conflict began despite stronger long-term oil prices, with APA (APA) and Chord Energy (CHRD) leading gains, while Comstock Resources, Weatherford International (WFRD) and Gulfport Energy (GPOR) have posted the weakest performance.UBS continues to favor Ovintiv (OVV), Devon Energy (DVN) and Antero Resources (AR) among exploration and production companies, while National Energy Services Reunited remains its top oilfield services pick.Price: $12.87, Change: $-0.37, Percent Change: -2.79%

$APA$AR$CHRD$CRK$DVN$GPOR$OVV$WFRD
Wire

Weatherford Tracking Toward Upper End of Q2 Guidance as 2027 Outlook Improves, UBS Says

Weatherford International (WFRD) is tracking toward the upper end of its second-quarter guidance with no major surprises from the Middle East conflict, though headwinds are expected to persist into Q3 before a meaningful Q4 recovery and an improving 2027 outlook, UBS Securities said.The investment firm forecasts Q2 adjusted EBITDA of $213 million and revenue of $1.074 billion versus Street estimates of $209 million and $1.071 billion. The firm also expects adjusted earnings per share of $1.01, above the consensus estimate of $0.92.Cease-fire progress and the gradual roll-off of startup costs are expected to support a recovery through year-end, according to the note Wednesday.UBS also sees tightening regional activity after the conflict creating pricing opportunities that could position Weatherford well heading into 2027.The pending NCS Multistage (NCSM) acquisition adds further upside. The deal expands Weatherford's completions offering, is expected to generate more than $15 million in annual run-rate synergies and could roughly double non-North American revenue contribution over the long term.UBS maintained its neutral rating and $113 price target.Price: $84.42, Change: $-0.07, Percent Change: -0.08%

$WFRD
Commodities

US, Canada Activity Growth Lifts Oilfield Services Outlook, RBC Says

Growing North American activity, improving pricing trends, and expanding power-generation opportunities supported a broadly positive outlook for oilfield services companies at RBC Capital Markets' energy conference, the firm said Sunday.Land drillers indicated that US activity could strengthen through 2026, with Patterson-UTI Energy (PTEN), Precision Drilling (PDS), and Ensign Energy Services currently operating a combined 171 rigs, including 94, 37, and 40, respectively.Representing about 32% of the US land rig fleet of 541, those companies outlined plans to add 10 to 16 rigs next year, implying an industry-wide increase of roughly 32 to 51 rigs and lifting the total count to 573 to 592 rigs by the end of 2026.Several conference participants also noted that approximately 30 idled rigs could return to service for low-single-digit millions of dollars, RBC said.Pricing trends appeared more favorable in pressure pumping than drilling, with Halliburton (HAL), Liberty Energy (LBRT), Patterson-UTI, and Trican Well Service pursuing price increases as momentum builds in the second quarter of 2026 and larger gains emerge in the second half of the year.On the drilling side, Patterson-UTI said rig pricing improved from the low $30,000-per-day range to the low- to mid-$30,000-per-day range, while Nabors Industries (NBR) expects rates to reach the mid-$30,000-per-day range as super-spec rig utilization exceeds 70%.In Canada, the rig count remained at 182, with Precision Drilling reporting record second-quarter 2026 activity levels and Ensign Energy Services expecting operations to rise from 30 rigs after spring break-up to more than 50 rigs during the third quarter of 2026.While disruptions persisted in Kuwait, Iraq, and Qatar, activity in Saudi Arabia, Oman, and the UAE continued at a more normalized pace, and Enerflex (EFXT) pursued expansion opportunities in Saudi Arabia and the UAE, RBC said.International growth opportunities continued to expand, with Halliburton securing a multi-billion-dollar pressure pumping contract from YPF in Argentina, while Venezuela remained a longer-term opportunity highlighted by Halliburton, Weatherford International (WFRD), Ensign Energy Services, and Baker Hughes (BKR).Power generation emerged as another major theme, with Liberty Energy, Atlas Energy Solutions (AESI), and Enerflex evaluating more than 21 gigawatts of opportunities, as data center demand and grid constraints support behind-the-meter projects.Although investors generally support the bullish case for energy services because of stronger commodity prices, Middle East supply disruptions, and favorable producer outlooks, many remain cautious while awaiting further developments in the Iran conflict, RBC said.

$AESI$BKR$EFXT$HAL$LBRT$NBR$PDS$PTEN$WFRD
Equities

Weatherford Wins Deepwater Completions Contract From ExxonMobil Unit Offshore Nigeria

Weatherford International (WFRD) said Thursday it has secured a deepwater integrated completions contract from ExxonMobil (XOM) affiliate Esso Exploration & Production Nigeria for offshore operations in Nigeria.Under the contract, Weatherford said it will provide integrated upper and lower completions solutions for deepwater wells, with a focus on improving safety, well integrity, operational reliability and efficiency throughout the lifecycle of the wells.Weatherford said the completion equipment will be configured through its global supply chain and supported locally in Nigeria to enable in-country execution and service delivery.Financial terms of the contract were not disclosed.

$WFRD$XOM
Wire

Weatherford Secures Managed Pressure Drilling Contract in Brazil

Weatherford International (WFRD) said Thursday it has received a contract from Ventura Offshore Holding to provide managed pressure drilling solutions for the SSV Victoria rig in Brazil.Financial details weren't disclosed.The company said it will deploy its G3 Integrated Riser Joint system for operations in Brazil's Buzios Field, along with rig preparation, system integration, and long-term aftermarket maintenance services.Price: $102.98, Change: $-5.40, Percent Change: -4.98%

$WFRD
Wire

UBS Adjusts Price Target on Weatherford International to $113 From $105, Maintains Neutral Rating

Weatherford International (WFRD) has an average rating of overweight and mean price target of $114.27, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $103.09, Change: $+2.10, Percent Change: +2.08%

$WFRD
Oil & Energy

Weatherford International Posts Record Q1 Wireline Work, Cautions Against Softer Q2 Results

Weatherford International (WFRD) reported Tuesday its Q1 results, highlighting a new global record of 29,121 feet for extended-reach Wireline work in Saudi Arabia, surpassing its 2024 record of 28,067 feet.The Houston-based company's drilling and evaluation segment reported $321 million in revenue during the quarter, down from $350 million, or 8%, year over year and $340 million, or 6%, from the prior quarter, which it attributed to softer activity across key regions.Well construction and completions segment generated $443 million in sales, up from $441 million in the prior year, but down from $510 million sequentially. Production and intervention segment at $296 million posted a steeper 11% and 16% decline compared to the prior year and quarter, respectively.Weatherford had a cautious outlook for Q2, expecting results to be "softer than previously anticipated" amid the ongoing conflict in the Middle East, which it said clouds the company's "near-term visibility."Management also said that they expect it to take "several weeks" at a minimum for "activity levels to normalize, logistics to stabilize and incremental costs to come down."

$WFRD
Oil & Energy

Middle East Rig Count Dropped in March, RBC Says

Middle East onshore rig counts fell by 43 rigs, or 5% over the month in March, while offshore counts declined by 10 rigs, or 4%, RBC Capital Markets strategists said in a Tuesday note.These disruptions, along with higher logistics and staffing costs, are expected to pressure first-half results for companies with regional exposure, RBC said.In the US, Q1 rig counts totaled 530, down 7% over the year but above RBC's estimate of 518, prompting an upward revision to its 2026 forecast to 544 from 526.RBC expects activity to remain supported by higher oil prices, easing concerns about a potential drop in West Texas Intermediate crude to $50 per barrel coming into 2026.In Canada, rig counts reached 216, down 4% over the year but slightly above RBC's estimate of 214, with spending expected to remain broadly flat, RBC said.Meanwhile, oilfield services stocks have surged about 36% in 2026, with valuations shifting higher as the sector heads into the Q1 earnings season, strategists said.RBC said Q1 reporting begins Apr. 21 with Halliburton (HAL), Saipem, and Weatherford (WFRD), as investors assess geopolitical risks and future production recovery trends, the report said.RBC said US-focused companies have outperformed peers with Middle East exposure this year, reflecting stronger domestic activity trends and fewer geopolitical disruptions.The firm's top picks include Schlumberger (SLB), Baker Hughes (BKR), TechnipFMC (FTI), Enerflex (EFXT), Patterson-UTI Energy (PTEN), Hunting and CES Energy Solutions, according to the note.Meanwhile, RBC lowered its Q1 EBITDA estimates by 2.4%, with the largest revisions for Schlumberger (SLB) and Trican Well Service (TCW), while raising forecasts for Saipem, TechnipFMC and Enerflex.The revised estimates generally fall below consensus, particularly for Trican Well Service, Atlas Energy Solutions (AESI) and Calfrac Well Services (CFW), while exceeding expectations for Halliburton, Enerflex and Ensign Energy Services, RBC said.RBC downgraded Trican Well Service to sector perform from outperform with a $7.50 price target and cut NOV (NOV) to sector perform from outperform with a $21 price target.

$AESI$BKR$EFXT$FTI$HAL$NOV$PTEN$SLB$WFRD

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