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Weatherford International: Valuation, Analyst Targets, and More

PART:
1 2 3 4 5 6 7
Part 4
Weatherford International: Valuation, Analyst Targets, and More PART 4 OF 7

The Latest Short Interest in Weatherford International

Short interest in Weatherford

As of September 12, short interest in Weatherford International (WFT) as a percentage of its float was 14.0%, compared to 15.8% as of June 30. Since 2Q17, short interest in WFT has fallen 11% as of September 12. Since June 30, WFT’s stock price has risen ~9%. So investors cut negative bets on WFT and don’t likely see a drop in WFT’s stocks’ price to warrant holdings on to their shorts or adding to them. As we noted in the graph below, WFT’s stock price and short interest as a percentage of float have been inversely related since September 2015.

However, from November 2016 to March 2017, WFT’s stock price and short interest have been positively related. During this period, WFT’s stock price rose 48%. WFT constitutes 3.5% of the iShares US Oil Equipment & Services ETF (IEZ). Since June 30, IEZ has fallen 2%.The Latest Short Interest in Weatherford International

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Implications of short interest in Weatherford’s peers

Short interest in TechnipFMC (FTI) has fallen 29% since June 30, while its stock price fell 2%. So investors cut negative bets on FTI and don’t likely see a drop in FTI’s stock price to warrant holding on to their shorts or adding to them. Short interest in Basic Energy Services (BAS) has fallen 29% since June 30 while BAS’s stock price fell 37%.

Short interest in Flotek Industries (FTK) has fallen 2% since June 30 while FTK’s stock price fell 38%. So investors cut negative bets on BAS and FTK and don’t likely see much of a drop in these stocks’ prices.

Although short interest has risen, has volatility changed as well for Weatherford International? We’ll find out in the next part of this series.

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