Energy

Short Sellers Cannot Make Up Their Mind on Major Oil

Chris Lange

Published: December 10, 2015 9:35 am

Last Updated: January 13, 2020 4:15 pm

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

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 22.28 million shares from the previous reading of 22.69 million. Shares closed Wednesday at $87.60, in a 52-week trading range of $69.58 to $114.45.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 51.55 million shares from the previous level of 45.89 million. Shares closed Wednesday at $75.63, within a 52-week trading range of $66.55 to $95.18.

BP PLC’s (NYSE: BP) short interest decreased to 5.85 million shares from its previous reading of 6.91 million. Shares closed Wednesday at $31.81, in a 52-week trading range of $29.35 to $43.85.

ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 33.33 million from the previous 29.53 million. Shares closed Wednesday at $48.47, within a 52-week trading range of $41.10 to $71.37.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest jump to 175.58 million shares from its previous reading of 164.67 million. Shares closed Wednesday at $5.00, in a 52-week trading range of $3.72 to $10.55. 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 12.63 million shares from the previous reading of 13.34 million. Shares closed most recently at $67.95, in a 52-week trading range of $63.60 to $83.74.