Weatherford International’s (WFRD) Remarkable Recovery

Weatherford International’s (WFRD) Remarkable Recovery

Thu, August 27, 2026 at 7:53 PM GMT+3 3 min read

Greenlight Capital is an investment management firm specializing in value-oriented strategies. The letter can be downloaded here. Greenlight Capital released its second-quarter 2026 investor letter, reporting a 4.3% decline for the Partnerships and a 1.9% year-to-date gain, net of fees and expenses, compared with gains of 15.2% and 10.2% for the S&P 500 Index. The funds entered the quarter conservatively, but costly trading decisions and macro positions, particularly in gold and U.S. interest rates, weighed on results. Long positions contributed roughly 9%, offset by similar losses from shorts. The letter also highlighted concerns over speculative market conditions, using SpaceX's $1.75 trillion IPO valuation and investment-grade rating as examples of excess. Looking ahead, Greenlight is more constructive on Fed Chairman Kevin Warsh's inflation stance and expects positions to recover if inflation moderates and rates remain unchanged. Additionally, reviewing the Strategy's top holdings could help identify its best ideas for 2026.

In its second-quarter 2026 investor letter, Greenlight Capital highlighted Weatherford International plc (NASDAQ:WFRD). Weatherford International plc (NASDAQ:WFRD) is an energy services company that provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. On August 26, 2026, Weatherford International plc (NASDAQ:WFRD) closed at $88.00 per share. The one-month return of Weatherford International plc (NASDAQ:WFRD) was 6.34%, and its shares gained 38.20% over the past 52 weeks. Weatherford International plc (NASDAQ:WFRD) has a market capitalization of $6.34 billion and its stock has traded within a 52-week range of $60.23 - $113.15.

Greenlight Capital stated the following regarding Weatherford International plc (NASDAQ:WFRD) in its Q2 2026 investor letter:

"During the quarter, we also exited a few positions: Weatherford International plc (NASDAQ:WFRD) with a 45% IRR over a 4-year holding period. After the company emerged from bankruptcy and relisted on NASDAQ, the shares appreciated significantly as the company further de-levered, reclaimed lost market share and improved its margins while its end markets in energy services generally strengthened."

Weatherford International plc (NASDAQ:WFRD) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Weatherford International plc (NASDAQ:WFRD) at the end of the second quarter which was 42 in the previous quarter. While we acknowledge the potential of Weatherford International plc (NASDAQ:WFRD) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Weatherford International plc (NASDAQ:WFRD) and shared a list of best quality stocks to buy according to Wall Street analysts. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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