Big Oil Scares Off Short Sellers

By Chris Lange Updated Jan 11, 2:23PM EST · Published Nov 28, 10:10AM EST

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Big Oil Scares Off Short Sellers — © amygdala_imagery / Getty Images

Crude oil was trading right around $51 a barrel early on Wednesday. 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 November 15 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks decreased.

Chevron Corp. (NYSE: CVX) saw its short interest decrease slightly to 17.45 million shares from the previous reading of 17.53 million. The shares were last seen trading at $115.80, in a 52-week range of $107.54 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) fall to 28.04 million shares from the previous level of 30.08 million. The stock traded at $77.40, within a 52-week range of $72.16 to $89.30.

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BP PLC (NYSE: BP) short interest decreased to 5.42 million shares from the previous level of 6.19 million. Shares traded at $40.35, in a 52-week range of $36.15 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short shrank to 11.64 million from the previous 12.38 million. Shares were trading at $65.35, within a 52-week range of $49.72 to $80.24.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 40.60 million shares from the previous 33.90 million. The stock traded at $14.25 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 14.05 million shares from the previous reading of 11.96 million. Shares recently traded at $69.15, in a 52-week range of $62.47 to $87.67.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.