Short interest in Schlumberger
Short interest in Schlumberger (SLB) as a percentage of its float was 1.65% as of July 3, compared to 1.61% on the same day last year. Since July 3, 2017, short interest in SLB has increased 2%. During the same period, SLB stock has fallen 2.6%.
Short interest in Schlumberger’s peers
Since July 3, 2017, short interest in ION Geophysical (IO) has decreased 57%, while its stock has risen 465%. Investors reduced their negative bets on IO in the past year. Short interest in Now (DNOW) has increased 59% since July 3, 2017, while its stock has risen 18%. Investors’ negative bets on DNOW increased in the past year as its stock fell.
Short interest in Oil States International (OIS) has increased 22% since July 3, 2017, while its stock has risen 12%. Investors piled on negative bets on OIS in the past year. Typically, more investors expect the stock to fall if short interest increases.
What’s Schlumberger’s correlation with the price of crude oil? We’ll find out in the next part of this series.