Also former Exxon CEO Rex Tillerson taking the role of Secretary of State could prove to be beneficial for the oil industry. Considering this, short interest for major oil stocks is now more important than ever to follow.
The October 31 short interest data have been compared with the previous figures, and short interest for the selected big oil stocks was mixed.
Chevron Corp. (NYSE: CVX) saw its short interest decrease to 22.83 million shares from the previous reading of 27.00 million. The shares were last seen trading at $117.00, in a 52-week trading range of $102.55 to $120.89.
Short interest in Exxon Mobil Corp. (NYSE: XOM) decreased to 33.10 million shares from the previous 36.35 million. The stock traded at $83.05, within a 52-week range of $76.05 to $93.22.
BP PLC (NYSE: BP) short interest increased to 8.74 million shares from the previous reading of 8.56 million. Shares traded at $40.35, in a 52-week range of $32.53 to $41.55.
The number of ConocoPhillips (NYSE: COP) shares short decreased to 26.17 million from the previous level of 32.14 million. Shares were trading at $52.98, within a 52-week range of $42.27 to $54.22.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 33.38 million shares from the previous 31.76 million. The stock traded at $10.80 a share, in a 52-week range of $7.61 to $11.71. 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 10.05 million shares from the previous reading of 9.05 million. Shares recently traded at $68.55, in a 52-week range of $57.20 to $73.51.