Weatherford (WFRD) Soars 6.5%: Is Further Upside Left in the Stock?

Core Viewpoint - Weatherford's shares have experienced a significant rally due to an improving outlook for its oilfield services business, particularly in international and offshore markets, with a notable increase in drilling activity in regions like Latin America and MENA [2] Group 1: Stock Performance - Weatherford shares rose 6.5% in the last trading session, closing at $88.5, with trading volume higher than usual [1] - The stock has gained 4.2% over the past four weeks [1] Group 2: Business Outlook - The positive outlook for Weatherford's oilfield services is driven by increased drilling activity in international markets, especially in Latin America and MENA [2] - Geopolitical developments in Venezuela are enhancing Weatherford's near-term prospects, as the potential development of its oil and gas reserves would require extensive oilfield services [2] - Weatherford's innovative oilfield services and energy technology solutions are expected to see sustained demand, supporting profitability [2] Group 3: Earnings Expectations - Weatherford is expected to report quarterly earnings of $1.42 per share, reflecting a year-over-year decline of 5.3%, with revenues projected at $1.26 billion, down 6% from the previous year [3] - The consensus EPS estimate has been revised 15% lower over the last 30 days, indicating a negative trend in earnings estimate revisions [4] Group 4: Industry Comparison - Weatherford holds a Zacks Rank of 3 (Hold) within the Oil and Gas - Field Services industry [5] - Subsea 7 SA, another company in the same industry, closed 3.5% higher at $22.86, with a month-to-date return of 7.6% [5] - Subsea 7's consensus EPS estimate has remained unchanged at $0.59, representing a significant year-over-year increase of 742.9% [6]