Short Interest in Oil and Gas Sector Reflects Falling Crude Oil Prices

Chevron Corp. (NYSE: CVX) saw short interest rise 10.9% to 17.5 million shares. About 0.9% of Chevron’s float is now short and days to cover is two. The share price fell about 12.4% in the two-week period and is down about 9% for the year to date. The stock closed at $113.55 Wednesday, in a 52-week range of $100.15 to $135.10.

Exxon Mobil Corp. (NYSE: XOM) saw short interest decline 4.2% to 41.1 million shares, about 1% of the company’s float and two days to cover at the average daily trading volume. In the two-week period to December 15, the share price fell 8% and the stock is down more than 7% year-to-date. Shares closed Wednesday at $93.80, in a 52-week range of $86.19 to $104.76.

Valero Energy Corp. (NYSE: VLO) posted a gain of 35.4% in short interest, to a total of 14.37 million shares. Short interest comprises about 2.8% of Valero’s float and days to cover is two. During the two-week short interest reporting period, the stock price fell 9.5%, and shares have lost more than 1% year-to-date. The shares closed at $49.79 Wednesday, in a 52-week range of $42.53 to $59.69.

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Short interest in Chesapeake Energy Corp. (NYSE: CHK) rose 25.2% to 53.9 million shares, which represents about 8.2% of the company’s float and three days to cover. The share price lost about 25% in the two-weeks to December 15, and the stock is down about 23% in 2014. The stock closed at $19.84 on Wednesday, in a 52-week range of $16.41 to $29.92.

Oilfield services giant Schlumberger Ltd. (NYSE: SLB) saw short interest rise 8.2% to 15.28 million shares, about 1.2% of Schlumberger’s float and one day to cover at the average daily volume. In the two-week short interest period, shares dropped about 8%, and the stock is down about 3.4% for the year to date. The stock closed at $87.06 Wednesday, in a 52-week range of $78.47 to $118.76.

National Oilwell Varco Inc. (NYSE: NOV) posted a rise in short interest to 15.83 million shares, up 10.7% in the two-week period. That represents about 3.7% of the company’s float and three days to over. For the two-week period, the share price fell 13%, and shares are down nearly 8% year-to-date. Shares closed at $66.18 on Wednesday, in a 52-week range of $660.88 to $86.55.

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