Short Sellers Pile Into Major Oil Stocks
The April 13 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks increased.
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Crude oil is back above $67 a barrel after suffering through a rough March, and before this oil had not been at this price level in over two years. We saw crude actually come within a dollar of the $70 price level. Recent Middle East tensions have helped push the price higher. The current crude price still pales in comparison to what it was in 2014.
The April 13 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 22.93 million shares from the previous reading of 21.92 million. The shares were last seen trading at $121.75, in a 52-week range of $102.55 to $133.88.
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Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 31.74 million shares from the previous 31.25 million. The stock traded at $78.00, within a 52-week range of $72.16 to $89.30.
BP PLC (NYSE: BP) short interest rose to 7.95 million shares from the previous reading of 5.36 million. Shares traded at $43.50, in a 52-week range of $33.90 to $44.81.
The number of ConocoPhillips (NYSE: COP) shares short rose to 24.44 million from the previous level of 23.91 million. Shares were trading at $64.80, within a 52-week range of $42.27 to $67.30.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 34.35 million shares from the previous 31.85 million. The stock traded at $13.40 a share, in a 52-week range of $7.61 to $14.93. 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 10.74 million shares from the previous reading of 9.91 million. Shares recently traded at $76.60, in a 52-week range of $57.20 to $78.09.
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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.
