Energy

On Big Oil, Short Sellers Can't Make Up Their Minds

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Crude oil was trading right around $61 a barrel early on Monday. Over the past month, crude has been down sharply following the markets lower for the year. However, it is worth pointing out that the current crude price still pales in comparison to what it was in 2014.

The October 31 short interest data have been compared with the previous figures, and short interest moves in these selected big oil stocks were mixed.

Chevron Corp. (NYSE: CVX) saw its short interest decrease slightly to 17.53 million shares from the previous reading of 17.73 million. The shares were last seen trading at $120.05, in a 52-week range of $108.02 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 30.08 million shares from the previous level of 29.33 million. The stock traded at $81.10, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest increased to 6.19 million shares from the previous level of 5.68 million. Shares traded at $41.50, in a 52-week range of $36.15 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short increased to 12.38 million from the previous 11.29 million. Shares were trading at $67.20, within a 52-week range of $48.97 to $80.24.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 33.90 million shares from the previous 42.09 million. The stock traded at $15.00 a share, in a 52-week range of $9.02 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 11.96 million shares from the previous reading of 9.85 million. Shares recently traded at $72.90, in a 52-week range of $62.47 to $87.67.

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