Energy

Short Sellers of Major Oil Stocks Run for Cover

Chris Lange

Published: August 10, 2018 8:25 am

Last Updated: January 11, 2020 7:35 pm

Crude oil was trading near $67 a barrel early on Friday. Over the past month, crude has been up and down, reaching as high as about $73 and as low as $66, but the current crude price still pales in comparison to what it was in 2014.

The July 31 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks fell.

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 17.94 million shares from the previous reading of 18.41 million. The shares were last seen trading at $122.53, in a 52-week range of $105.30 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) decreased to 30.95 million shares from the previous level of 32.22 million. The stock traded at $80.32, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest decreased to 4.15 million shares from the previous 5.00 million. Shares traded at $43.53, in a 52-week range of $33.90 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short dropped to 12.37 million from the previous 16.01 million. Shares were trading at $71.75, within a 52-week range of $42.27 to $73.76.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 42.90 million shares from the previous 54.42 million. The stock traded at $11.96 a share, in a 52-week range of $8.41 to $17.20. 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 7.33 million shares from the previous reading of 7.25 million. Shares recently traded at $77.79, in a 52-week range of $58.44 to $87.67.