Energy
Oil and Gas Short Interest Rises on Spike in Transocean (BHI, BP, CHK, CVX, COP, EPD, XOM, KMI, NOV, PSX, SLB, RIG, VLO)
Published:
Last Updated:
Baker Hughes Inc. (NYSE: BHI) saw short interest fall by 5.9% to 11 million shares, 2.5% of the company’s total float.
BP PLC (NYSE: BP) short interest rise by 2.5% to 10.88 million shares, 0.3% of the company’s float.
Chesapeake Energy Corp. (NYSE: CHK) saw a 6.4% rise in short interest to 93.57 million shares, which represents about 14.3% of the firm’s float.
Chevron Corp. (NYSE: CVX) short interest rose 13.8% to 15.41 million shares, which represents 0.8% of the company’s float.
ConocoPhillips (NYSE: COP) saw an 11.9% drop in short interest to 220.56 million shares, which represents 1.8% of the firm’s float.
Enterprise Products Partners L.P. (NYSE: EPD) saw short interest fall 20% to 2.65 million shares, or 0.5% of the company’s total float.
Exxon Mobil Corp. (NYSE: XOM) saw short interest rise 12.5% to 30.94 million shares, 0.7% of the company’s total float.
Kinder Morgan Inc. (NYSE: KMI) short interest rose 22% to 9.24 million shares, which represents 2.3% of the company’s float.
National Oilwell Varco Inc. (NYSE: NOV) saw short interest rise 2.6% to 4 million shares, about 0.9% of the company’s total float.
Phillips 66 (NYSE: PSX) saw an 11.2% drop in short interest to 10.81 million shares, which represents 1.7% of the firm’s float.
Schlumberger Ltd. (NYSE: SLB) short interest rise by 1.1% to 11.9 million shares, which represents 0.9% of the company’s float.
Transocean Ltd. (NYSE: RIG) saw a 54.7% increase in short interest to 5.64 million shares, which represents 1.6% of the firm’s float.
Valero Energy Corp. (NYSE: VLO) saw a 12.5 drop in short interest to 19.85 million shares, which represents 3.6% of the firm’s float.
The sharpest increases in short interest came in the services sector, with Transocean experiencing a leap in short interest. That is likely due to two causes. First, Transocean has cleared up its liability related to the April 2010 Gulf of Mexico disaster, and second from the disclosure that Carl Icahn has now amassed a 5.61% stake in the company and is demanding a $4 per share dividend. Neither factor should keep shares near 52-week highs.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
