Short Interest Explodes in Major Oil Stocks
As of the January 15 settlement date, 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 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 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.
