Short Sellers Become More Selective in Major Oil

Energy

Published: July 27, 2015 8:10 am

Last Updated: April 28, 2020 4:48 am

The short interest data have been released for the July 15 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off highs, while others are pushing on new highs.

The July 15 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 decrease to 17.17 million shares from the previous reading of 19.18 million. Shares closed Friday at $90.60, in a 52-week trading range of $90.35 to $133.80.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 41.37 million shares from the previous level of 37.38 million. Shares closed Friday at $79.94, within a 52-week trading range of $79.72 to $104.76.

BP PLC’s (NYSE: BP) short interest decreased to 8.26 million shares, from its previous reading of 9.18 million. Shares closed Friday at $42.39, in a 52-week trading range of $34.88 to $50.79.

ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 28.39 million from the previous level of 26.35 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 $52.09, within a 52-week trading range of $51.98 to $86.11.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest rise to 138.17 million shares from its previous reading of 129.14 million. Shares closed Friday at $6.65, 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. (NYSE: OXY) short interest decreased to 10.43 million shares from the previous reading of 11.22 million. Shares closed most recently at $68.42, in a 52-week trading range of $67.86 to $100.27.

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