Five Very Cheap Energy Stocks That Hedge Funds Are Piling On

2. Weatherford International Plc (NYSE:WFT)

Investors with Long Positions (as of June 30): 37

Aggregate Value of Investors’ Holdings (as of June 30): $840.96 Million

Expectedly, the shares of Weatherford International Plc (NYSE:WFT) lost more than 30% during the third quarter, but have gained 20% since the end of the three-month period. The number of hedge funds within our database with long positions on the stock decreased by three during the second quarter, accumulating 8.80% of its outstanding shares. Earlier this week, Weatherford International released its financial results for the third quarter, posting revenues of $2.24 billion, compared to $2.39 billion in the previous quarter and $3.88 billion in the third quarter a year ago. The company managed to narrow down its non-GAAP net loss to $42 million from $77 million reported in the second quarter of 2015. At the same time, Weatherford reduced its net debt by $28 million during the recent quarter. Ken Griffin’s Citadel Advisors LLC reported owning 7.76 million shares of Weatherford International Plc (NYSE:WFT) through its 13F filing for the June quarter.