Short Sellers Massively Raise Bets on Select Major Oil Stocks

Energy

Published: September 11, 2015 8:35 am

The short interest data have been released for the August 31 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off highs, while others are pushing on new highs.

The August 31 short interest data have been compared with the previous figures, and short interest for the selected stocks is mixed.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 24.99 million shares from the previous reading of 20.04 million. Shares closed Thursday at $75.66, in a 52-week trading range of $69.58 to $125.70.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest take a massive jump to 55.70 million shares from the previous level of 40.99 million. Shares closed Thursday at $72.52, within a 52-week trading range of $66.55 to $98.05.

BP PLC’s (NYSE: BP) short interest decreased to 7.29 million shares, from its previous reading of 7.36 million. Shares closed Thursday at $31.21, in a 52-week trading range of $30.53 to $46.91.

ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 30.27 million from the previous level of 29.32 million. Note that the most recent short interest readings back to December are at an elevated level, compared to the other half of the 52-week range. Shares closed Thursday at $48.43, within a 52-week trading range of $41.10 to $81.28.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest rise to 137.64 million shares from its previous reading of 133.98 million. Shares closed Thursday at $4.85, in a 52-week trading range of $4.68 to $18.09. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its woes in Brazil.

Occidental Petroleum Corp. (NYSE: OXY) short interest increased by nearly 50% to 15.06 million shares from the previous reading of 10.46 million. Shares closed most recently at $67.74, in a 52-week trading range of $64.83 to $95.21.

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