X
<

What the Market Suggested for Weatherford on August 25

PART:
1 2 3 4
Part 3
What the Market Suggested for Weatherford on August 25 PART 3 OF 4

Short Interest in Weatherford International as of August 25

Investors’ short interest in Weatherford

As of August 25, 2017, Weatherford International’s (WFT) short interest as a percentage of its float was 13.8%. On June 30, 2017, short interest in WFT was 15.8%. So short sellers’ negative bets on WFT fell since June 30. Weatherford stock has risen ~9.0% since June 30, 2017. So short sellers reduced their bets on McDermott International (MDR) and don’t expect much downside in WFT stock.

Short Interest in Weatherford International as of August 25

Interested in BAS? Don't miss the next report.

Receive e-mail alerts for new research on BAS

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Short interest in WFT’s peers

By comparison, short interest in Flotek Industries (FTK) on August 25, 2017, has fallen 3.0% since June 30, 2017. Its stock fell 39.0% during that same period. So short sellers don’t expect to see any further downside in FTK stock.

Short interest in McDermott International (MDR) fell 1.0% since June 30, while its stock fell 18.0% during the same period. Short interest in Basic Energy Services (BAS) fell 28.0%, while its stock fell 40.0%. So short sellers cut their bets on MDR and BAS after June 30 and don’t see prices falling in these stocks. Read Market Realist’s BHGE, PTEN, and BAS: Did 2Q17 Results Impress Investors? in this context.

Weatherford versus industry ETFs

WFT constitutes 3.4% of the iShares US Oil Equipment & Services (IEZ). IEZ has fallen 20.0% in the past year compared to a 27.0% fall in WFT stock. WFT also accounts for 0.01% of the iShares Russell 3000 (IWV). Read more about oilfield equipment and service companies in Market Realist’s Which Oilfield Service Stocks Look Attractive after 2Q17?

Next, we’ll take a look at Weatherford’s correlation with the price of crude oil.

X

Please select a profession that best describes you: