Short Sellers Up the Ante in Major Oil Stocks

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Crude oil was trading right around $74 a barrel early on Wednesday. Over the past month, crude has been up and down, reaching as high as about $77 and as low as $67, but the current crude price still pales in comparison to what it was in 2014.

The September 28 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks increased.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 17.62 million shares from the previous reading of 16.66 million. The shares were last seen trading at $126.10, in a 52-week range of $108.02 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) decreased to 28.34 million shares from the previous level of 30.03 million. The stock traded at $86.15, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest increased to 7.02 million shares, from the previous level of 5.26 million. Shares traded at $45.60, in a 52-week range of $36.15 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short rose to 12.74 million from the previous 11.23 million. Shares were trading at $78.10, within a 52-week range of $48.89 to $80.24.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 47.04 million shares from the previous 49.09 million. The stock traded at $15.40 a share, in a 52-week range of $9.02 to $17.20. 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 9.19 million shares from the previous reading of 8.00 million. Shares recently traded at $81.15, in a 52-week range of $62.47 to $87.67.