Correlation between Schlumberger and Crude Oil on August 18
The correlation coefficient between crude oil prices with Schlumberger’s (SLB) stock price from August 18, 2016, to August 18, 2017, is 0.60.
Short interest in Schlumberger (SLB) as a percentage of its float was ~1.6% on August 18, 2017, which was a marginal increase compared to June 30, 2017.
On August 18, 2017, Schlumberger’s (SLB) implied volatility was 19.2%.
Schlumberger’s (SLB) one-year stock price has fallen 24% through August 18, 2017. In this series, we’ll look at short interest in Schlumberger and its correlation with crude oil.
The correlation coefficient between Weatherford International’s stock price and WTI crude oil prices from August 18, 2016, to August 18, 2017, is 0.44.
On August 18, 2017, Weatherford International’s (WFT) implied volatility was 54.2%. Weatherford’s 2Q17 financial results were announced on July 28, 2017.
In the past year, Weatherford International (WFT) stock fell 32% until August 18, 2017. OIH generated -26% returns during this period.
The US offshore rig count for the week ended August 11, 2017, rose by one from the previous week. The total rig count fell by five to 949.
Nabors Industries’ (NBR) US operations witnessed a 33.5% YoY (year-over-year) revenue rise in 2Q17.
In 2Q17, Nabors Industries’ (NBR) total debt rose 7% on a YoY (year-over-year) basis, while its cash and marketable securities fell 9% YoY.
Nabors Industries’ (NBR) CFO (cash from operating activities) turned positive in 2Q17, compared with its negative CFO in 1Q17.
Nabors Industries (NBR) is one of the largest land-based drilling operators in the world, but it has had a weak run on the stock market in 2017.
Nabors Industries’ (NBR) management has estimated that many of the US upstream companies are set to add new rigs in 2017.
Nabors Industries’ (NBR) EBITDA (earnings before interest, tax, depreciation, and amortization) margin fell to 21.6% in 2Q17 from 29% in 2Q16.
On August 14, Nabors Industries (NBR) announced that it plans to acquire its oilfield equipment and services industry peer Tesco (TESO).
On August 10, 2017, all of the sell-side analysts tracking Flotek Industries rated it as a “buy.” None of the analysts rated Flotek as a “hold” or “sell.”
The correlation coefficient between Flotek Industries’ (FTK) stock price and WTI crude oil prices from August 10, 2016, to August 10, 2017, is 0.39.
The short interest in Flotek Industries, as a percentage of its float, was 23% as of August 10, 2017—marginally higher compared to 22.8% as of June 30.
Flotek stock will likely close between $6.42 and $5.50 in the next seven days. Flotek’s stock price was $5.96 on August 10, 2017.
Sell-side analysts expect Flotek’s adjusted EBITDA to rise sharper in the next four quarters compared to its peers.