Short Sellers Continue Adding to Major Oil Positions

Energy

Published: October 12, 2015 9:35 am

Last Updated: October 12, 2015 9:38 am

The short interest data have been released for the September 30 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off highs, while others are pushing on new highs.

The September 30 short interest data have been compared with the previous figures, and short interest for the selected stocks increased almost across the board.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 29.63 million shares from the previous reading of 28.01 million. Shares closed Friday at $89.57, in a 52-week trading range of $69.58 to $120.17.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest take a jump to 65.79 million shares from the previous level of 62.77 million. Shares closed Friday at $79.26, within a 52-week trading range of $66.55 to $97.20.

BP PLC’s (NYSE: BP) short interest increased to 5.67 million shares from its previous reading of 4.75 million. Shares closed Friday at $35.96, in a 52-week trading range of $29.35 to $43.85.

ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 31.79 million from the previous 32.15 million. Note that the most recent short interest readings back to December are at an elevated level, compared to previous periods. Shares closed Friday at $56.10, within a 52-week trading range of $41.10 to $74.68.

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Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest rise to 152.71 million shares from its previous reading of 143.77 million. Shares closed Friday at $5.67, in a 52-week trading range of $3.72 to $17.64. 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 increased to 18.37 million shares from the previous reading of 17.91 million. Shares closed most recently at $73.60, in a 52-week trading range of $63.60 to $89.40.

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