Energy
Short Interest in Oil and Gas Sector Reflects Falling Crude Oil Prices
Published:
Last Updated:
Chevron Corp. (NYSE: CVX) saw short interest rise 10.9% to 17.5 million shares. About 0.9% of Chevron’s float is now short and days to cover is two. The share price fell about 12.4% in the two-week period and is down about 9% for the year to date. The stock closed at $113.55 Wednesday, in a 52-week range of $100.15 to $135.10.
Exxon Mobil Corp. (NYSE: XOM) saw short interest decline 4.2% to 41.1 million shares, about 1% of the company’s float and two days to cover at the average daily trading volume. In the two-week period to December 15, the share price fell 8% and the stock is down more than 7% year-to-date. Shares closed Wednesday at $93.80, in a 52-week range of $86.19 to $104.76.
Valero Energy Corp. (NYSE: VLO) posted a gain of 35.4% in short interest, to a total of 14.37 million shares. Short interest comprises about 2.8% of Valero’s float and days to cover is two. During the two-week short interest reporting period, the stock price fell 9.5%, and shares have lost more than 1% year-to-date. The shares closed at $49.79 Wednesday, in a 52-week range of $42.53 to $59.69.
ALSO READ: Solar Energy Stocks Short Interest Rises on Falling Oil Prices
Short interest in Chesapeake Energy Corp. (NYSE: CHK) rose 25.2% to 53.9 million shares, which represents about 8.2% of the company’s float and three days to cover. The share price lost about 25% in the two-weeks to December 15, and the stock is down about 23% in 2014. The stock closed at $19.84 on Wednesday, in a 52-week range of $16.41 to $29.92.
Oilfield services giant Schlumberger Ltd. (NYSE: SLB) saw short interest rise 8.2% to 15.28 million shares, about 1.2% of Schlumberger’s float and one day to cover at the average daily volume. In the two-week short interest period, shares dropped about 8%, and the stock is down about 3.4% for the year to date. The stock closed at $87.06 Wednesday, in a 52-week range of $78.47 to $118.76.
National Oilwell Varco Inc. (NYSE: NOV) posted a rise in short interest to 15.83 million shares, up 10.7% in the two-week period. That represents about 3.7% of the company’s float and three days to over. For the two-week period, the share price fell 13%, and shares are down nearly 8% year-to-date. Shares closed at $66.18 on Wednesday, in a 52-week range of $660.88 to $86.55.
ALSO READ: The 5 Most Shorted New York Stock Exchange Stocks in Mid-December
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.