Energy

Short Sellers Can't Make Up Their Minds on Major Oil Stocks

Chris Lange

Published: July 25, 2018 7:05 am

Last Updated: January 11, 2020 8:29 pm

Crude oil was trading near $68 a barrel on Thursday. Over the past month, crude has been up and down, reaching as high as about $73 and as low as $66, but the current crude price still pales in comparison to what it was in 2014.

The July 13 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks was mixed.

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 18.41 million shares from the previous reading of 19.46 million. The shares were last seen trading at $123.85, in a 52-week range of $104.20 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 32.22 million shares from the previous level of 31.39 million. The stock traded at $83.01, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest increased to 5.00 million shares from the previous reading of 3.84 million. Shares traded at $44.82, in a 52-week range of $33.90 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short dropped slightly to 16.01 million from the previous level of 16.06 million. Shares were trading at $70.85, within a 52-week range of $42.27 to $72.57.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 54.42 million shares from the previous 64.07 million. The stock traded at $11.68 a share, in a 52-week range of $8.41 to $17.20. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its ongoing woes in Brazil.

Occidental Petroleum Corp.’s (NYSE: OXY) short interest increased to 7.25 million shares from the previous reading of 6.42 million. Shares recently traded at $83.46, in a 52-week range of $58.44 to $87.67.