Short Sellers Grow More Selective on Major Oil
The February 15 short interest data have been compared with the previous figures, and short interest moves in these selected big oil stocks were mixed.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Crude oil was trading right around $57 a barrel early on Thursday. Over the past month, crude has fluctuated, ranging from $52 to $57 a barrel but following the markets higher for the most part. However, it is worth pointing out that the current crude price still pales in comparison to what it was in 2014.
The February 15 short interest data have been compared with the previous figures, and short interest moves in these selected big oil stocks were mixed.
Chevron Corp. (NYSE: CVX | CVX Price Prediction) saw its short interest decrease to 16.93 million shares from the previous reading of 17.32 million. The shares were trading at $118.69 early Tuesday, in a 52-week range of $100.22 to $131.08.
Short interest in Exxon Mobil Corp. (NYSE: XOM) rose to 30.86 million shares from the previous level of 26.80 million. The stock traded at $75.04, within a 52-week range of $64.65 to $87.36.
[nativounit]
BP PLC (NYSE: BP) short interest increased to 8.82 million shares from the previous level of 7.04 million. Shares traded at $42.56, in a 52-week range of $36.28 to $47.83.
The number of ConocoPhillips (NYSE: COP) shares short decreased to 10.58 million from the previous 10.90 million. Shares were trading at $68.09, within a 52-week range of $52.54 to $80.24.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, rose to 27.58 million shares from the previous 27.11 million. The stock traded at $15.96 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 decreased to 10.54 million shares from the previous reading of 12.07 million. Shares recently traded at $66.16, in a 52-week range of $56.83 to $87.67.
[recirclink id=531232]
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
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.
