Crude futures (CLG24) may have rallied on Friday, bolstered by positive economic data - but the most active contract is still down 13.8% from its October highs. This trend in the futures market is significant for energy stocks, which are closely tied to crude oil prices. Many oil majors, including Exxon Mobil (XOM) and Chevron (CVX), are also negative over the last three months.
On the other hand, Weatherford International (WFRD) has been a standout in terms of price action. With a market cap of $6.67 billion, WFRD is up 11% over the last three months, and the shares have rallied more than 90% over the past year. And with analysts expecting more upside in the year ahead, the firm offers a strong investment thesis for 2024. Here's a closer look at what's in store.
