Major Oil Short Sellers Become More Selective

Energy

Published: February 25, 2016 8:05 am

Last Updated: January 13, 2020 12:44 pm

The short interest data have been released for the February 12 settlement date. With oil prices slumping and global markets showing signs of weakness, short interest is now more important than ever to follow.

The February 12 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 27.46 million shares from the previous reading of 26.34 million. Shares closed Wednesday at $85.27, in a 52-week trading range of $69.58 to $112.20.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 55.71 million shares from the previous level of 52.11 million. Shares closed Wednesday at $81.52, within a 52-week range of $66.55 to $90.09.

BP PLC (NYSE: BP) short interest increased to 8.77 million shares from its previous reading of 7.58 million. Shares closed Wednesday at $28.54, in a 52-week range of $27.01 to $43.85.

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ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 37.35 million from the previous level of 43.94 million. Shares closed Wednesday at $32.96, within a 52-week range of $31.05 to $69.72.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest decrease slightly to 151.84 million shares from the previous 191.18 million. Shares closed Wednesday at $3.50, in a 52-week trading range of $2.71 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 fell to 14.74 million shares from the previous reading of 15.71 million. Shares closed most recently at $69.44, in a 52-week trading range of $58.24 to $82.06.

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