Short Sellers Become More Selective in Major Oil

Energy

Published: July 13, 2015 8:25 am

The short interest data have been released for the June 30 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off of highs, while others are attempting to push new highs.

The June 30 short interest data have been compared with the previous figures, and short interest for the selected stocks is mixed.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 19.18 million shares from the previous reading of 18.13 million. Shares closed Friday at $94.41, in a 52-week trading range of $93.26 to $135.10.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 37.38 million shares from the previous level of 36.00 million. Shares closed Friday at $82.22, within a 52-week trading range of $81.49 to $104.76.

BP PLC‘s (NYSE: BP) short interest decreased to 9.18 million shares, from its previous reading of 10.06 million. Shares closed Friday at $39.90, in a 52-week trading range of $34.88 to $52.34.

ConocoPhillips (NYSE: COP) saw the number of its shares short increase only slightly to 26.35 million from the previous level of 26.30 million. Note that the most recent short interest readings back to December are at an elevated level compared to the other half of the 52-week range. Shares closed Friday at $59.13, within a 52-week trading range of $58.08 to $87.09.

ALSO READ: Short Sellers Seek Direction in Solar, Alt Energy Stocks

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 129.14 million shares from its previous reading of 130.38 million. Shares closed Friday at $8.38, in a 52-week trading range of $4.90 to $20.94. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its woes in Brazil.

Occidental Petroleum Corp.‘s (NYSE: OXY) short interest increased to 11.22 million shares from the previous reading of 10.49 million. Shares closed most recently at $73.30, in a 52-week trading range of $71.70 to $100.27.

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