We Are Maintaining Weatherford International FVE on Unremarkable Quarterly Results
At face value, Weatherford’s first-quarter results were slightly disappointing, although for now we will not be adjusting our long-term views or fair value for the company, which matches the market’s fairly muted response. Despite a 30% higher U.S. horizontal rig count, North American quarterly revenue increased only 1% sequentially. Even after stripping out the demobilization of the company’s North American pressure pumping business, revenue still only increased 7%, thus greatly underperforming...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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