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Analyzing the Short Interest: NOV, FTI, OIS, TS, and OII

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Short interest in Tenaris

The short interest in Tenaris S.A. (TS) as a percentage of its float was 0.76% as of June 25—compared to 1.5% as of January 1. Since January 1, the short interest in Tenaris has decreased 49%. So, investors’ negative bets on Tenaris have decreased in 2018. Since the beginning of 2018, the company’s stock price has increased 10.8%.

TechnipFMC and National Oilwell Varco 

The short interest in TechnipFMC (FTI) as a percentage of its float was 1.8% as of June 25. Since January 1, the short interest in TechnipFMC has increased 4%, while the stock price has increased 0.64%. The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.5% as of June 25. The short interest in National Oilwell Varco has decreased 23% since January 1, while its stock price has increased 14.7% during the same period.

Oil States International and Oceaneering International 

The short interest in Oil States International (OIS) as a percentage of its float was 8.8% as of June 25. The short interest in Oil States International has declined 22% since January 1, while its stock price has increased 12.2% during this period.

The short interest in Oceaneering International (OII) as a percentage of its float was 9.1% as of June 25. The short interest in Oceaneering International has increased 9% since January 1, while its stock price has increased 11.1% during this period.

So, investors’ negative bets on Tenaris, National Oilwell Varco, and Oil States International decreased. Investors’ negative bets on TechnipFMC and Oceaneering International have increased in 2018. Usually, more investors expect the stock’s price to fall if the short interest as a percentage of its float increases.

To learn more, read The Top Five Oilfield Companies by Expected Revenue Growth in Q2.

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