Energy
Short Interest: Oil and Gas Services Look Good to Short Sellers (BHI, BP, CHK, CVX, COP, EPD, XOM, KMI, NOV, PSX, SLB, RIG, VLO)
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We have tracked the key short interest changes in the following oil and gas leaders: Baker Hughes Inc. (NYSE: BHI), BP PLC (NYSE: BP), Chesapeake Energy Corp. (NYSE: CHK); Chevron Corp. (NYSE: CVX), ConocoPhillips (NYSE: COP), Enterprise Products Partners L.P. (NYSE: EPD), Exxon Mobil Corp. (NYSE: XOM), Kinder Morgan Inc. (NYSE: KMI), National Oilwell Varco Inc. (NYSE: NOV), Phillips 66 (NYSE: PSX), Schlumberger Ltd. (NYSE: SLB) Transocean Ltd. (NYSE: RIG) and Valero Energy Corp. (NYSE: VLO).
Here are short interest positions in these firms as of October 15.
Baker Hughes Inc. (NYSE: BHI) saw short interest rise 7.5% to 16.22 million shares, or 3.7% of the company’s total float.
BP PLC (NYSE: BP) short interest fell 4.2% to 5.72 million shares.
Chesapeake Energy Corp. (NYSE: CHK) saw a 2.7% drop in short interest to 76.21 million shares, which represents about 11.6% of the company’s float.
Chevron Corp. (NYSE: CVX) short interest fell 13.1% to 16.24 million shares, which represents just 0.8% of the company’s float.
ConocoPhillips (NYSE: COP) saw a 7.9% rise in short interest to 25.25 million shares, which represents 2.2% of the firm’s float.
Enterprise Products Partners L.P. (NYSE: EPD) saw short interest fall 37.4% to 2.04 million shares, just 0.4% of the company’s total float.
Exxon Mobil Corp. (NYSE: XOM) saw short interest drop 2.4% to 40.12 million shares, just 0.9% of the company’s total float.
Kinder Morgan Inc. (NYSE: KMI) short interest rose 8.3% to 9.12 million shares, which represents 1.9% of the company’s float.
National Oilwell Varco Inc. (NYSE: NOV) saw short interest rise 10.5% to 5.2 million shares, about 1.2% of the company’s total float.
Phillips 66 (NYSE: PSX) saw a 3.3% rise in short interest to 8.6 million shares, which represents 1.4% of the firm’s float.
Schlumberger Ltd. (NYSE: SLB) short interest fell 0.3% to 12.51 million shares, which represents 0.9% of the company’s float.
Transocean Ltd. (NYSE: RIG) saw a 23.8% fall in short interest to 3.54 million shares, which represents 1% of the firm’s float.
Valero Energy Corp. (NYSE: VLO) saw a 14.4% rise in short interest to 12.09 million shares, which represents 2.2% of the firm’s float.
Oil field services firms National Oilwell Varco and Baker Hughes experienced large gains in short interest as natural gas drilling in the United States continues to be cut back. Valero’s sharp rise is likely due to the rumored sale of its California refineries. And short sellers simply did not believe that crude prices would stay so low, making refining margins soar.
Paul Ausick
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