Comparing Short Interest in the Top 5 Oilfield Stocks
Short interest in the top oilfield companies
In this article, we’ll compare short interest in the top five OFS (oilfield service) and equipment stocks by expected earnings growth. On September 18, 2017, short interest in Schlumberger (SLB), as a percentage of its float, fell to 1.56% from 1.61% on June 30, 2017. Investors cut negative bets on Schlumberger stock as it fell and recovered strongly over this period. Since June 30, it has risen 3%.
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Short interest in NOV, OII, and HAL
Short interest in National Oilwell Varco (NOV), as a percentage of its float, was 7.7% on September 18, 2017, compared with 7.3% on June 30, 2017. Since June 30, NOV stock has risen 7%, prompting investors to increase their negative bets. Its higher short interest hints at the expectation of its price falling. For more on the company, read National Oilwell Varco: Valuation, Analysts’ Ratings, and More.
Short interest in Oceaneering International (OII), as a percentage of its float, rose to 13.1% on September 18, 2017, compared with 9.5% on June 30, 2017. As the stock has risen 14% since June 30, investors have increased their negative bets on OII.
Short interest in Halliburton (HAL), as a percentage of its float, fell to 2.3% on September 18, 2017, from 3.2% on June 30, 2017. As HAL’s price has changed little since June 30, investors have reduced their negative bets on the stock. Investors don’t expect HAL stock to fall much from its current level. HAL makes up 2.7% of the iShares US Energy ETF (IYE). Whereas IYE has fallen 2% in the past year, HAL has risen 3%. On September 18, 2017, short interest in U.S. Silica Holdings (SLCA) was ~17%, compared with 15.2% on June 30, 2017. Next, we’ll discuss short interest in the bottom five OFS stocks by expected earnings growth.