Short interest in Halliburton

Short interest in Halliburton (HAL) as a percentage of its float was 2.3% as of September 15, 2017, compared to 3.2% as of June 30, 2017. Since 2Q17, short interest in HAL stock has fallen ~29.0%. During the same period, Halliburton stock has fallen 1.0%. So investors cut negative bets on Halliburton as HAL stock fell and recovered to the same price over this period. As noted in the graph below, short interest as a percentage of float and HAL stock have largely been inversely related since September 15, 2015.

HAL makes up 9.8% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ has risen 1.0% since June 30, 2017. The S&P 500 Index (SPX-INDEX) has risen 3.0% since June 30, 2017.What’s Short Interest in Halliburton on September 15?

Implications of short interest

Since June 30, 2017, short interest in Key Energy Services (KEG) has fallen ~5.0% through September 15, 2017, while KEG stock has fallen 38.0% during the same period. Short interest in TechnipFMC (FTI) fell 29%, while its stock fell 1.0%. Short interest in Keane Group (FRAC) fell 1.0%, and FRAC stock fell 12.0% during the same period. So investors have reduced their negative bets in these stocks since June 30, 2017, and don’t expect to see these stocks falling enough to warrant holding on to their shorts or adding to them.

You can find out more about the OFS (oilfield services and equipment) industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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