The short interest data have been released for the April 30 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off these highs. As a whole, it appears that as oil prices continue to rise that investors are becoming more optimistic and short sellers are backing off.
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The April 30 short interest data have been compared with the previous figures, and for most of the selected stocks, short interest is down.
Chevron Corp. (NYSE: CVX) saw its short interest decrease to 19.0 million shares from the previous reading of 19.5 million. The past five readings have been the highest short interest for the past year, until the current reading dropped off from that level. Shares closed Monday at $107.36, in a 52-week trading range of $98.88 to $135.10.
Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall to 37.1 million shares from the previous level of 39.0 million. Shares closed Monday at $86.78, within a 52-week trading range of $82.68 to $104.76.
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BP PLC (NYSE: BP) short interest increased slightly to 10.6 million shares from its previous reading of 10.5 million. Some of its most recent readings are the highest on its 52-week trading range, excluding a spike in September. However, it looks like short interest is beginning to back off of these highs. Shares closed Monday at $42.58, in a 52-week trading range of $34.88 to $53.48.
ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 24.9 million from the previous level of 29.0 million. Note that the most recent short interest readings back to December are the highest in the 52-week range. Shares closed Monday at $65.28, within a 52-week trading range of $60.57 to $87.09.
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 133.2 million from its previous reading of 146.1 million shares. The current short interest level is roughly three or four times larger than it was a year ago. Shares closed Monday at $9.63, in a 52-week trading range of $4.90 to $20.94. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its woes in Brazil.
Occidental Petroleum Corp. (NYSE: OXY) short interest dropped to 9.2 million shares from the previous reading of 11.6 million. Shares closed most recently at $76.68, in a 52-week trading range of $71.70 to $101.38.
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