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.

ALSO READ: The 6 Most Shorted NYSE Stocks

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.