The first-quarter earnings report for the fourth-largest energy services provider, Weatherford International (NYSE: WFT )
, was not flawless in terms of growth or margins. What was, and is,
more important is that the company has very clearly put itself on a path
of serious self-improvement and is remaking itself into a high-margin
provider of services with relatively little overlap with the big three
-- Schlumberger (NYSE: SLB ) , Halliburton (NYSE: HAL ) , and Baker Hughes (NYSE: BHI ) .
With this progress, the penalty to Weatherford's earnings before
interest, taxes, depreciation, and amortization multiple no longer seems
as appropriate, and these shares continue to look undervalued as an
improving play on unconventional reservoirs.
Follow this link for more:
The Clouds Are Parting for Weatherford International
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