Investors’ short interest in Weatherford
As of August 4, 2017, Weatherford International’s (WFT) short interest as a percentage of its float was 15.8%, which is unchanged compared to its short interest as a percentage of its float on June 30, 2017. Weatherford’s stock price has risen ~12% since June 30, 2017.
Short interest in Weatherford’s peers
In comparison, the short interest in Oil States International (OIS) on August 4, 2017, has risen 10% since June 30, 2017. Its stock price fell 8% during this period. The short interest in Key Energy Services (KEG) fell 3% since June 30, while its stock price fell 13% during the same period. The short interest in Helmerich & Payne (HP) rose 7%, while its stock price fell 9%. To learn more, read Where Patterson-UTI Stands before the 2Q17 News.
Weatherford versus industry ETFs
Weatherford accounts for 3.4% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ has fallen 11% in the past year—compared to a 19% fall in Weatherford’s stock price. Weatherford also accounts for 0.02% of the iShares Russell 3000 ETF (IWV). Read BHGE, PTEN, and BAS: Did 2Q17 Results Impress Investors? to learn about oilfield equipment and service companies’ 2Q17 performances.
Next, we’ll discuss Weatherford’s correlation with crude oil prices.