Short Interest in Halliburton as of June 7

Short interest in Halliburton

Short interest in Halliburton (HAL) as a percentage of float was 1.6% as of June 7. That compares to ~3% on June 7, 2017. Short interest in HAL stock has decreased 45% in the year, and its stock has risen ~9%. So investors’ negative bets on Halliburton have declined in the past year.

As you can see in the graph below, short interest as a percentage of float and HAL stock have been inversely related for the past two years.

Short Interest in Halliburton as of June 7

Short interest in HAL’s industry peers

Since June 7, 2017, short interest in Flotek Industries (FTK) has decreased ~41% as of June 7, 2018. FTK stock has fallen 63% in that period. Short interest in Precision Drilling (PDS) has decreased 73% since June 7, 2017, while its stock has risen 1% during that period. So investors decreased their negative bets in FTK and PDS in the past year. Typically, fewer investors expect a stock to fall if short interest as a percentage of float decreases.

On the other hand, short interest in Oceaneering International (OII) has increased 26% since June 7, 2017. OII stock has fallen 4% during that period.

What’s HAL’s correlation with the price of crude oil? Let’s look at that in the next part of this series.