Short Sellers Increase Bets in Major Oil
The October 15 short interest data have been compared with the previous figures, and short interest for the selected oil stocks was mixed.
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The short interest data have been released for the October 15 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 October 15 short interest data have been compared with the previous figures, and short interest for the selected stocks was mixed.
Chevron Corp. (NYSE: CVX) saw its short interest increase to 31.45 million shares from the previous reading of 29.63 million. Shares closed Monday at $88.77, in a 52-week trading range of $69.58 to $120.17.
Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall to 65.16 million shares from the previous level of 65.79 million. Shares closed Monday at $81.22, within a 52-week trading range of $66.55 to $97.20.
BP PLC’s (NYSE: BP) short interest increased to 6.50 million shares from its previous reading of 5.67 million. Shares closed Monday at $35.05, in a 52-week trading range of $29.35 to $43.85.
ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 36.36 million from the previous 31.79 million. Note that the most recent short interest readings back to December are at an elevated level, compared to previous periods. Shares closed Monday at $52.95, within a 52-week trading range of $41.10 to $74.68.
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 150.86 million shares from its previous reading of 152.71 million. Shares closed Monday at $4.92, in a 52-week trading range of $3.72 to $11.85. 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 decreased to 17.29 million shares from the previous reading of 18.37 million. Shares closed most recently at $71.66, in a 52-week trading range of $63.60 to $86.37.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
