Short Sellers Can't Make Up Theirs Minds on Major Oil

Energy

Published: January 13, 2016 9:10 am

Last Updated: January 13, 2020 3:06 pm

The short interest data have been released for the December 31 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 December 31 short interest data have been compared with the previous figures, and short interest for the selected stocks was mixed.

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 26.14 million shares from the previous reading of 26.55 million. Shares closed Tuesday at $82.15, in a 52-week trading range of $69.58 to $112.93.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall to 50.45 million shares from the previous level of 54.57 million. Shares closed Tuesday at $75.20, within a 52-week range of $66.55 to $93.45.

BP PLC’s (NYSE: BP) short interest decreased to 5.50 million shares from its previous reading of 7.22 million. Shares closed Tuesday at $28.65, in a 52-week trading range of $28.00 to $43.85.

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ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 40.92 million from the previous 36.98 million. Shares closed Tuesday at $40.25, within a 52-week trading range of $39.13 to $70.11.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest increase to 179.63 million shares from its previous reading of 177.64 million. Shares closed Tuesday at $3.49, in a 52-week range of $3.33 to $10.55. 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 13.17 million shares from the previous reading of 12.15 million. Shares closed most recently at $60.97, in a 52-week trading range of $58.82 to $83.74.

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