Short Interest Explodes in Major Oil Stocks

By Chris Lange Updated Jan 13, 2:27PM EST · Published Jan 28, 9:05AM EST

Short Interest Explodes in Major Oil Stocks — © Thinkstock

The short interest data have been released for the January 15 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off of highs, while others are attempting to push new highs.

The January 15 short interest data have been compared with the previous figures, and short interest for the selected stocks is largely up.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 27.23 million shares from the previous reading of 26.14 million. The October readings were the highest short interest for the past year. Shares closed Wednesday at $83.29, in a 52-week trading range of $69.58 to $112.93.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 52.19 million shares from the previous level of 50.45 million. Shares closed Wednesday at $75.29, within a 52-week trading range of $66.55 to $93.45.

BP PLC (NYSE: BP) short interest increased to 7.71 million shares, from its previous reading of 5.5 million. Shares closed Wednesday at $30.68, in a 52-week trading range of $27.56 to $43.85.
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ConocoPhillips (NYSE: COP) saw the number of its shares short increase to 44.57 million from the previous level of 40.92 million. Shares closed Wednesday at $36.21, within a 52-week trading range of $32.71 to $70.11.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 196.39 million shares from its previous reading of 179.63 million. Shares closed Wednesday at $3.13, in a 52-week trading range of $2.71 to $10.55. 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 jumped to 15.00 million shares from the previous reading of 13.17 million. Shares closed most recently at $64.16, in a 52-week trading range of $58.24 to $83.74.

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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.