Comparing Short Interest in the Bottom 5 Oilfield Stocks
Short interest in the bottom oilfield stocks
In this article, we’ll look at short interest in the bottom five OFS (oilfield service) and equipment stocks by expected earnings growth. Short interest in Patterson-UTI Energy (PTEN), as a percentage of its float, fell to 8.2% on September 18, 2017, from 9.1% on June 30, 2017. As the stock has fallen 7% since June 30, investors have cut negative bets on PTEN.
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Short interest in WFT, NBR, and FTI
Short interest in Weatherford International (WFT), as a percentage of its float, was 14.0% on September 18, 2017, compared with 15.8% on June 30, 2017. Since June 30, WFT’s price has risen 15%.
Short interest in Nabors Industries (NBR), as a percentage of its float, fell to 8.4% on September 18, 2017, from 12.2% on June 30, 2017. As NBR’s price has fallen 6% since June 30, some investors have cut negative bets on WFT and NBR. WFT makes up 3.4% of the Shares US Oil Equipment & Services ETF (IEZ). Whereas IEZ has fallen 4% in the past year, WFT has fallen 21%. On September 18, short interest in TechnipFMC (FTI) was 2.2%.
Has the correlation between Wall Street’s top five OFS companies increased? Continue to the next part to find out.