Weatherford International plc (NASDAQ:WFRD) saw its share price decline by 6.16% between January 9 and January 16, 2026. The company provides equipment and services for drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide.
Earlier this month, Weatherford International reached a 52-week high. Market excitement around US action in Venezuela contributed to this rally. CEO Girish Saligram described Venezuela as a 'massive opportunity' for the American oilfield services sector, stating it would prove crucial in reviving the country's crumbling oil infrastructure.
Analyst attention increased during this period. On January 12, BofA raised its price target on Weatherford International from $82 to $98 while maintaining a 'Buy' rating. Two days later on January 14, Goldman Sachs increased its price target from $73 to $83, keeping a 'Neutral' rating on the shares.
The company has since experienced a slight downturn. This may be due to profit-taking by investors following the strong rally. The decline could also relate to a correction in global crude oil prices over recent days, following reports that Washington might delay its intervention in Iran.