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Oilfield Services Stocks That Lead in Short Interest

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Oilfield services stocks with high short interest

CARBO Ceramics (CRR) has the highest short interest–to–equity float ratio among OFS (oilfield services) stocks (OIH), as of August 23, 2016. The company’s short interest–to–equity float ratio is 36.9%. One month ago, it was 39.8%. Three months ago, it was 42.6%. In the last three months, the stock has returned 25.8%. The company has reported operating losses in the last four quarters. Its cash and cash equivalents were $41.5 million, as of 1Q16.

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Tidewater saw the biggest fall

Currently, Tidewater’s (TDW) short interest–to–equity float ratio is 32%. One month ago, it was 30.4%. Three months ago, it was -25.9%.

In the last three months, Tidewater’s stock has fallen 40%—the most among OFS stocks. You can see this in the above table, which shows OFS players with high short interest. The company’s net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio is 6.5x. Its cash and cash equivalents are $678.4 million, as of 1Q16.

Transocean’s (RIG) short interest–to–equity float ratio is 25.0%. One month ago, it was 25.4%. Three months ago, it was 25.1%. The company’s net debt-to-EBITDA ratio is 1.8x. Its cash and cash equivalents were $2.9 billion in 1Q16. In the last three months, the stock has risen 11.2%.

Diamond Offshore Drilling’s (DO) short interest–to–equity float ratio is 24.2%. One month ago, it was 25.3%. Three months ago, it was 23.0%. In the last three months, the stock has fallen 20%. The company’s net debt-to-EBITDA ratio is 2.0x. Its cash and cash equivalents were $129 million in 1Q16.

Helmerich & Payne’s (HP) short interest–to–equity float ratio is 23.5%. One month ago, it was 24%. Three months ago, it was 22.2%. Its net debt-to-EBITDA ratio is -0.2x because it has cash in excess of debt. Its cash and cash equivalents were $898 million in 1Q16. The stock has risen 8.1% in the last three months.

Rowan Companies (RDC) and Noble (NE) have short interest–to–equity float ratios of 17.0% and 14.7%, respectively.

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