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What the Market Suggested for Halliburton on July 28

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Part 3
What the Market Suggested for Halliburton on July 28 PART 3 OF 3

What Was the Short Interest in Halliburton on July 28?

Short interest in Halliburton

Short interest in Halliburton (HAL) as a percentage of its float was ~2.7% as of July 28, 2017, compared to 3.2% as of June 30, 2017. Since the end of 2Q17, short interest in HAL’s stock has fallen 16%. HAL’s stock price and short interest as a percentage of float have largely been inversely related since July 28, 2015, as the graph below shows.

What Was the Short Interest in Halliburton on July 28?

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Implications of short interest

Since June 30, 2017, HAL’s stock price has risen ~1%. Investors typically expect the stock’s price to rise if short interest as a percentage of float, or short interest, falls.

Short interest in Halliburton’s peers

Since June 30, 2017, short interest in TechnipFMC (FTI) has fallen 14%, while FTI’s stock price has risen 6%. Short interest in McDermott International (MDR) has fallen 11% since June 30, 2017, while its stock price has fallen 4%. Short interest in Oil States International (OIS) has risen 10% since June 30, while its stock price fell 2% during this period.

Halliburton makes up 0.18% of the iShares Core S&P 500 ETF (IVV). HAL also makes up 0.18% of the SPDR S&P 500 ETF (SPY). Since June 30, 2017, the SPX-INDEX has risen 2%.

Learn more about the OFS industry in Market Realist’s What Oilfield Services Companies’ Forward Multiples Indicate.

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