Short Sellers Become More Selective on Major Oil

By Chris Lange Updated Jan 13, 5:18PM EST · Published Nov 11, 8:55AM EST

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Short Sellers Become More Selective on Major Oil — © Thinkstock

The short interest data have been released for the October 30 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 October 30 short interest data have been compared with the previous figures, and short interest for the selected stocks was mixed.

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 23.64 million shares from the previous reading of 31.45 million. Shares closed Tuesday at $93.23, in a 52-week trading range of $69.58 to $118.91.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall to 49.95 million shares from the previous level of 65.16 million. Shares closed Tuesday at $82.35, within a 52-week trading range of $66.55 to $97.20.

BP PLC’s (NYSE: BP) short interest increased to 6.82 million shares from its previous reading of 6.50 million. Shares closed Tuesday at $34.77, in a 52-week trading range of $29.35 to $43.85.

ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 30.90 million from the previous 36.36 million. Note that the most recent short interest readings back to December are at an elevated level, compared to previous periods. Shares closed Tuesday at $54.65, within a 52-week trading range of $41.10 to $74.68.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest jump to 165.51 million shares from its previous reading of 150.86 million. Shares closed Tuesday at $4.93, in a 52-week trading range of $3.72 to $11.13. 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 decreased to 14.35 million shares from the previous reading of 17.29 million. Shares closed most recently at $76.26, in a 52-week trading range of $63.60 to $85.54.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.