Short Sellers Become More Selective on Major Oil Stocks

Energy

Published: August 26, 2015 7:50 am

The short interest data have been released for the August 14 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 August 14 short interest data have been compared with the previous figures, and short interest for some of the selected stocks is mixed.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 20.04 million shares from the previous reading of 18.12 million. Shares closed Tuesday at $70.02, in a 52-week trading range of $69.58 to $129.53.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall to 40.99 million shares from the previous level of 42.26 million. Shares closed Tuesday at $68.71, within a 52-week trading range of $66.55 to $99.96.

BP PLC’s (NYSE: BP) short interest decreased to 7.36 million shares, from its previous reading of 8.75 million. Shares closed Tuesday at $30.71, in a 52-week trading range of $30.69 to $48.47.

ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 29.32 million from the previous level of 28.21 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 Tuesday at $42.19, within a 52-week trading range of $41.10 to $81.47.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 133.98 million shares from its previous reading of 139.56 million. Shares closed Tuesday at $4.98, in a 52-week trading range of $4.68 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 increased to 10.46 million shares from the previous reading of 9.92 million. Shares closed most recently at $65.75, in a 52-week trading range of $64.83 to $100.27.

ALSO READ: The 6 Most Shorted NYSE Stocks

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