The short interest in Energy Transfer Equity (ETE) as a percentage of float ratio has risen to 7.9%, as compared to 7.2% last week (ended May 12).
Energy Transfer Equity (ETE) has now risen above its 50-day simple moving average, driven by the stock’s rally last week (ended May 12).
Energy Transfer Equity (ETE) is now trading at a price-to-distributable cash flow of 18.9x, which is high compared to its ten-quarter average of 17.9x.
Energy Transfer Equity (ETE) recovered slightly last week, after a major crash one week previously, rising 5.5% by Friday, May 12.
Enterprise Products Partners (EPD) rose 0.6% in the week ended May 12, 2017. The Alerian MLP ETF (AMLP) fell 1.6% last week, underperforming EPD.
As of May 12, 2017, ConocoPhillips (COP) had an implied volatility of ~25.0%, which is ~20.3% below its 260-trading-day historical price volatility of ~31.4%.
Last week, crude oil (USO) and gas (UNG) producer ConocoPhillips (COP) saw its stock price underperform crude oil prices by a wide margin.
After dismal manufacturing PMI (purchasing managers’ index) data, lower Chinese copper imports dented copper market sentiments last week.
Copper has been a relative underperformer in 2017 among the broader industrial metals space (XME). Copper’s slide continued last week.
The correlation coefficient between National Oilwell Varco stock and crude oil prices from May 11, 2016, to May 11, 2017, is 0.61.
Short interest in National Oilwell Varco (NOV) as a percentage of float is 6.8% as of May 11, 2017. It has remained unchanged since March 31, 2017.
NOV stock will likely close between $35.11 and $32.49 in the next seven days. The stock was trading at $33.80 on May 11, 2017.
On March 31, 2017, National Oilwell Varco (NOV) stock was 7.0% higher than on December 30, 2016. In 1Q17, its adjusted earnings were negative.
National Oilwell Varco’s (NOV) EV (enterprise value) when scaled by the trailing 12-month (or TTM) adjusted EBITDA isn’t meaningful due to its negative earnings.
In the past year, National Oilwell Varco (NOV) stock has risen 4.0% as of May 11, 2017, outperforming the VanEck Vectors Oil Services ETF (OIH).
AMD is increasing is operating expenses to develop and market new products. Under such circumstances, the company needs strong revenue growth to return to profit.
Since its 1Q17 financial results were announced on April 21, Schlumberger’s implied volatility has fallen from 21.4% to the current level.
Short interest in Schlumberger (SLB) stock, as a percentage of its float, was ~1.5% as of May 12, 2017—compared to 1.2% on March 31, 2017.
The correlation coefficient between Schlumberger’s stock price and crude oil prices from May 12, 2016, to May 12, 2017, is 0.63.
In the past year, Schlumberger (SLB) stock fell 2% until May 12, 2017. In the past year, Schlumberger has underperformed OIH.