Will Weatherford International plc (WFRD) Continue its Growth?

Yacktman Asset Management, an investment management firm, released its “Yacktman Fund” Q3 2022 investor letter. A copy of the same can be downloaded here. The fund returned -5.52% compared to a -5.62% return for its primary benchmark, the Russell 1000 Value Index, and -4.88% return for the S&P 500 Index. Inflationary pressures, interest rate hikes, corporate earnings reductions, and geopolitical tensions dragged the market in the quarter. In addition, check the fund’s top five holdings to know its best picks in 2022.

Yacktman Asset Management highlighted stocks like Weatherford International plc (NASDAQ:WFRD) in the Q3 2022 investor letter. Headquartered in Houston, Texas, Weatherford International plc (NASDAQ:WFRD) is an energy services company. On December 20, 2022, Weatherford International plc (NASDAQ:WFRD) stock closed at $47.50 per share. One-month return of Weatherford International plc (NASDAQ:WFRD) was 11.63%, and its shares gained 74.25% of their value over the last 52 weeks. Weatherford International plc (NASDAQ:WFRD) has a market capitalization of $3.354 billion.

Yacktman Asset Management made the following comment about Weatherford International plc (NASDAQ:WFRD) in its Q3 2022 investor letter:

“Weatherford International plc (NASDAQ:WFRD) shares rallied due to solid revenue growth and margin expansion. After many years of restructuring, the company’s results are improving significantly, which we think offers continued upside to the shares.”

Newpark Resources Inc (NR), NYSE:NR,

Weatherford International plc (NASDAQ:WFRD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Weatherford International plc (NASDAQ:WFRD) at the end of the third quarter, which was 21 in the previous quarter.

We discussed Weatherford International plc (NASDAQ:WFRD) in another article and shared the list of stocks to invest in according to David Einhorn’s Greenlight Capital. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.