Energy

How Much Big Oil Short Sellers Are Hiking Their Bets

Chris Lange

Published: January 11, 2019 10:00 am

Last Updated: January 31, 2020 2:10 am

Crude oil was trading right around $52 a barrel early on Friday. Over the past month, crude has fluctuated incredibly, following the markets lower for the most part. However, it is worth pointing out that the current crude price still pales in comparison to what it was in 2014.

The December 31 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks increased.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 21.45 million shares from the previous reading of 20.03 million. The shares were trading at $112.14 on Friday, in a 52-week range of $100.22 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) fell to 30.09 million shares from the previous level of 32.78 million. The stock traded at $71.24, within a 52-week range of $64.65 to $89.30.

BP PLC (NYSE: BP) short interest increased to 5.66 million shares from the previous level of 5.44 million. Shares traded at $40.11, in a 52-week range of $36.15 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short rose to 13.64 million from the previous 12.52 million. Shares were trading at $66.77, within a 52-week range of $50.18 to $80.24.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 30.44 million shares from the previous 29.91 million. The stock traded at $15.15 a share, in a 52-week range of $9.02 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 14.32 million shares from the previous reading of 13.58 million. Shares recently traded at $65.61, in a 52-week range of $56.83 to $87.67.