Short interest in Schlumberger
The short interest in Schlumberger (SLB) as a percentage of its float was 1.7% as of January 2, 2018—compared to 1.5% as of September 29, 2017. Since September 29, the short interest in Schlumberger has risen 11%. Since September 29, 2017, Schlumberger’s stock price has fallen marginally. Schlumberger accounts for 17.2% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ has risen 3% since September 29, 2017. The S&P 500 Index (SPX-INDEX) has risen 7% since September 29, 2017.
Short interest in Schlumberger’s peers
Since September 29, 2017, the short interest in the Keane Group (FRAC) has fallen 25%, while its stock price has risen 15%. So, investors reduced their negative bets because the Keane Group’s stock price has fallen since September 29. The short interest in Key Energy Services (KEG) has fallen 13% since September 29, 2017, while its stock price has fallen 6%. So, investors’ negative bets on Key Energy Services have fallen since September 29 because its stock fell. The short interest in Fairmount Santrol Holdings (FMSA) has fallen 32% since September 29, while its stock price has risen 13% during this period. So, investors have cut their negative bets on Fairmount Santrol Holdings since September 29.
Has Schlumberger’s correlation with crude oil prices changed in the past three years? We’ll discuss its correlation with crude oil prices in the next part.
According to data compiled by Reuters, on January 2, 2018, 73% of the Wall Street analysts tracking Schlumberger rated it as a “buy” or some equivalent.
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