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Short Interest in National Oilwell Varco as of July 16

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Jul. 19 2018, Updated 10:31 a.m. ET

Short interest in National Oilwell Varco

The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.9% as of July 16. In the past year, the short interest in National Oilwell Varco decreased 17.5%. So, investors decreased their negative bets on National Oilwell Varco. During this period, National Oilwell Varco’s stock price increased ~29%.

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Short interest in National Oilwell Varco’s peers

In the past year, the short interest in Nabors Industries (NBR) increased 58%, while the stock price decreased 19.5%. In the past year, the short interest in Oceaneering International (OII) rose 42%, while the stock price increased 9.6%. The short interest in Schlumberger (SLB) decreased 2.3% in the past year, while its stock price increased ~2%. So, investors increased their negative bets on Nabors Industries and Oceaneering International, while they reduced their negative bets on Schlumberger in the past year. Usually, more investors expect a stock’s price to fall if the short interest increases. To learn more, read What Analysts Expect from Schlumberger’s Q2 2018 Earnings.

Next, we’ll discuss National Oilwell Varco’s correlation with crude oil.

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