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What Did the Market Suggest for Halliburton on July 14?

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Part 4
What Did the Market Suggest for Halliburton on July 14? PART 4 OF 4

Analyzing Short Interest in Halliburton on July 14

Short interest in Halliburton

Short interest in Halliburton (HAL), as a percentage of its float, was ~3.2% as of July 14, 2017—compared to 2.1% as of March 31, 2017. Since the end of 1Q17, short interest in Halliburton stock has risen 56%. Halliburton’s stock price and short interest as a percentage of float have largely been inverse since July 2015—as you can see in the following graph.

Implications of short interest

Since March 31, 2017, Halliburton’s stock price has fallen ~10%. More investors typically expect the stock’s price to fall if the short interest as a percentage of float, or short interest, increases.

Analyzing Short Interest in Halliburton on July 14

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Short interest in Halliburton’s peers

Since March 31, 2017, short interest in TechnipFMC (FTI) has risen 90%, while the company’s stock price fell 14%. Short interest in Paterson-UTI Energy (PTEN) has fallen 22% since March 31, 2017, while its stock price fell 16%. Short interest in Helmerich & Payne (HP) has risen 26% since March 31, while its stock price fell 17% during this period.

Halliburton accounts for 0.18% of the iShares Core S&P 500 ETF (IVV). Halliburton also accounts for 0.18% of the SPDR S&P 500 ETF (SPY). The S&P 500 Index’s (SPX-INDEX) price and yield performance are tracked by SPY. Since March 31, 2017, the SPX-INDEX has risen 4%.

To learn more about the OFS industry, read What Oilfield Services Companies’ Forward Multiples Indicate.

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