Is Weatherford International Ltd (WFT)’s Stock Poised for a Rebound? Hedge Funds Seem to Think So

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. Zimmer Partners created the most valuable position in Weatherford International Ltd (NYSE:WFT) and had $46.7 million invested in the company at the end of the quarter. Jacob Gottlieb’s Visium Asset Management also made am $8.1 million investment in the stock during the quarter. The following funds were also among the new WFT investors: Todd J. Kantor’s Encompass Capital Advisors, Benjamin A. Smith’s Laurion Capital Management, and D. E. Shaw’s D E Shaw.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Weatherford International Ltd (NYSE:WFT) but similarly valued. We will take a look at Mednax Inc. (NYSE:MD), Brookfield Property Partners LP (NYSE:BPY), Lennox International Inc. (NYSE:LII), and Westlake Chemical Corporation (NYSE:WLK). This group of stocks’ market valuations are closest to WFT’s market valuation.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $147 million. That figure was $653 million in WFT’s case. Westlake Chemical Corporation (NYSE:WLK) is the most popular stock in this table. On the other hand Brookfield Property Partners LP (NYSE:BPY) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Weatherford International Ltd (NYSE:WFT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None