Energy

Short Sellers Pile Into Major Oil Stocks

Chris Lange

Published: April 25, 2018 9:55 am

Last Updated: January 12, 2020 12:30 am

Crude oil is back above $67 a barrel after suffering through a rough March, and before this oil had not been at this price level in over two years. We saw crude actually come within a dollar of the $70 price level. Recent Middle East tensions have helped push the price higher. The current crude price still pales in comparison to what it was in 2014.

The April 13 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks increased.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 22.93 million shares from the previous reading of 21.92 million. The shares were last seen trading at $121.75, in a 52-week range of $102.55 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 31.74 million shares from the previous 31.25 million. The stock traded at $78.00, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest rose to 7.95 million shares from the previous reading of 5.36 million. Shares traded at $43.50, in a 52-week range of $33.90 to $44.81.

The number of ConocoPhillips (NYSE: COP) shares short rose to 24.44 million from the previous level of 23.91 million. Shares were trading at $64.80, within a 52-week range of $42.27 to $67.30.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 34.35 million shares from the previous 31.85 million. The stock traded at $13.40 a share, in a 52-week range of $7.61 to $14.93. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its ongoing woes in Brazil.

Occidental Petroleum Corp.’s (NYSE: OXY) short interest increased to 10.74 million shares from the previous reading of 9.91 million. Shares recently traded at $76.60, in a 52-week range of $57.20 to $78.09.