Oil and Gas Short Interest Subdued on Rising Oil Prices (BHI, BP, CHK, CVX, COP, EPD, XOM, KMI, NOV, PSX, SLB, RIG, VLO)

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By Paul Ausick Updated Published

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We have tracked the key short interest changes in the following oil and gas leaders: Baker Hughes Inc. (NYSE: BHI), BP PLC (NYSE: BP), Chesapeake Energy Corp. (NYSE: CHK), Chevron Corp. (NYSE: CVX), ConocoPhillips (NYSE: COP), Enterprise Products Partners L.P. (NYSE: EPD), Exxon Mobil Corp. (NYSE: XOM), Kinder Morgan Inc. (NYSE: KMI), National Oilwell Varco Inc. (NYSE: NOV), Phillips 66 (NYSE: PSX), Schlumberger Ltd. (NYSE: SLB), Transocean Ltd. (NYSE: RIG) and Valero Energy Corp. (NYSE: VLO).

With the exception of Chesapeake, which is seen as primarily a natural gas company with lots of problems, the oil and gas firms are not heavily shorted. Nobody really thinks the price of oil is going to collapse — and that is probably a safe bet.

Baker Hughes Inc. (NYSE: BHI) saw short interest drop 9.3% to 15.9 million shares, or 3.6% of the company’s total float.

BP PLC (NYSE: BP) short interest rose 7.8% to 9.5 million shares, which represents just 0.3% of the company’s float.

Chesapeake Energy Corp. (NYSE: CHK) saw a 4.3% rise in short interest to 91.7 million shares, which represents about 14.1% of the firm’s float.

Chevron Corp. (NYSE: CVX) short interest rose 1.3% to 24.8 million shares, which represents just 1.3% of the company’s float.

ConocoPhillips (NYSE: COP) saw a 13.1% drop in short interest to 29.2 million shares, which represents 2.5% of the firm’s float.

Enterprise Products Partners L.P. (NYSE: EPD) saw short interest drop 13.4% to 3.8 million shares, just 0.7% of the company’s total float.

ExxonMobil Corp. (NYSE: XOM) saw short interest rise 5.8% to 41.2 million shares, just 0.9% of the company’s total float.

Kinder Morgan Inc. (NYSE: KMI) short interest jumped a whopping 42.5% to 11.3 million shares, which represents 2% of the company’s float.

National Oilwell Varco Inc. (NYSE: NOV) saw short interest rise 18.6% to 5.9 million shares, about 1.4% of the company’s total float.

Phillips 66 (NYSE: PSX) saw a 1.1% rise in short interest to 7.4 million shares, which represents 1.2% of the firm’s float.

Schlumberger Ltd. (NYSE: SLB) short interest jumped a 13.5% to 15.3 million shares, which represents 1.22% of the company’s float.

Transocean Ltd. (NYSE: RIG) saw a 8.2% drop in short interest to 3.6 million shares, which represents 1.1% of the firm’s float.

Valero Energy Corp. (NYSE: VLO) saw a 20.7% rise in short interest to 13.1 million shares, which represents 2.4% of the firm’s float.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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