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Which Oilfield Service Stocks Look Attractive in 4Q17?

PART:
1 2 3 4 5 6 7
Part 5
Which Oilfield Service Stocks Look Attractive in 4Q17? PART 5 OF 7

What’s the Short Interest in SLB, HAL, BHGE, and NOV?

Short interest in Schlumberger

Short interest in Schlumberger (SLB) as a percentage of its float was 1.4% as of November 6, 2017, compared to 1.5% as of September 29, 2017. Since September 29, short interest in SLB has fallen 5%. So, investors’ negative bets on SLB have fallen since September 29, 2017. Since September 29, 2017, SLB’s stock price has fallen ~4%.What’s the Short Interest in SLB, HAL, BHGE, and NOV?

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Short interest in HAL, NOV, and BHGE

Short interest in Halliburton (HAL) as a percentage of its float was 3.3% as of November 6, 2017. Since September 29, 2017, short interest in Halliburton has risen 9%, while HAL’s stock price has fallen 2% during this period. By comparison, short interest in National Oilwell Varco (NOV) as a percentage of its float was 8.2% as of November 6, 2017. Short interest in National Oilwell Varco has decreased 4% since September 29, 2017, while its stock price fell only 1%.

Short interest in Baker Hughes, a GE Company (BHGE), has fallen 18% since September 29, while its stock price has fallen 7% during this period. So, investors’ negative bets on BHGE have declined significantly since September 29. Typically, fewer investors expect the stock’s price to fall if short interest decreases as a percentage of float. SLB makes up 0.93% of the iShares US Energy ETF (IYE). IYE has risen 3% since September 29, 2017. The S&P 500 Index (SPX-INDEX) has risen 3% since September 29, 2017.

Did crude oil price affect investors’ sentiment?

Since September 29, 2017, the crude oil price has risen 11% until November 6. Crude oil’s price was also 28% higher compared to the crude oil price on November 7, 2016. Investors’ sentiment towards the energy market has been strong in the past five months. However, despite crude oil price’s strength, many oilfield equipment & services (or OFS) companies’ stock prices have not recovered as much as the crude oil price did.

Next, we’ll discuss the implied volatility of these OFS stocks.

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