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Short Interest in SLB, HAL, WFT, and NOV after 2Q17

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Nov. 20 2020, Updated 4:36 p.m. ET

Short interest in Schlumberger

The short interest in Schlumberger (SLB), as a percentage of its float, is 1.5% as of August 7, 2017—compared to 1.6% as of June 30, 2017. Since June 30, the short interest in Schlumberger has fallen 5%.

Since June 30, 2017, Schlumberger’s stock price has risen ~1%. Schlumberger accounts for 6.3% of the ProShares Ultra Oil & Gas (DIG). DIG has remained unchanged since June 30, 2017. The SPX-INDEX has risen 2% since June 30, 2017.

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Did the crude oil price impact investors’ sentiment?

The crude oil price has been volatile in 2017, although it has recovered handsomely compared to last year. Since June 30, 2017, it has risen 6% as of August 7. However, it’s 8% lower compared to the crude oil price at the beginning of 2017. As a result, investors’ sentiment towards the energy market has been fickle. Many OFS (oilfield equipment and services) companies’ stock prices swung sharply in the past seven months. During fiscal 2016, Schlumberger’s stock price rose 20%, while the WTI (West Texas Intermediate) crude oil price rose 45% during the year.

Short interest in Halliburton, National Oilwell Varco, and Weatherford

The short interest in Halliburton (HAL), as a percentage of its float, was 2.7% as of August 7, 2017. Since June 30, 2017, the short interest in Halliburton has fallen 16%, while its stock price has fallen 3% during this period. The short interest in National Oilwell Varco (NOV), as a percentage of its float, was 7.2% as of August 7, 2017. The short interest in National Oilwell Varco has fallen marginally by 1% since June 30, 2017, while its stock price has fallen 3%.

The short interest in Weatherford International (WFT) hasn’t changed since June 30. Its stock price has risen 10% during this period. Typically, fewer investors expect the stock price to fall if the short interest decreases as a percentage of its float. Read Could National Oilwell Varco’s Prospects Rise in 2017? to learn more about National Oilwell Varco.

In the next part, we’ll discuss the implied volatility of these OFS stocks.

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