WFRD - Weatherford: Fundamentals Valuation Make This Stock An Attractive Buy

2024-05-27 12:46:14 ET

Summary

• Weatherford stock has had a remarkable rise over a three-year period, but I want to make the case that price history should not cloud an investment decision.
• The company is firing on all cylinders and management has a good grip on the business and its profitability.
• I value the company through three lenses and find it an attractive buy at present levels.

Weatherford International plc ( WFRD ) is a prime example of a company that got its act together post Chapter 11, which gave a fresh lease of life for the company. When it came out of bankruptcy, it had its share of doubters and the timing couldn't have been worse. This was before the onset of COVID-19 when even the best-run oil companies looked like they could go under. Kudos to the new management for bringing it to where they are now. The stock has been more than a 100-bagger since its Covid lows, so it is natural to look back now and feel like you missed out on an eye-watering rally. It is also natural to look back and think it is "too late to get in." Is it really, though?...

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