Short Sellers Become Very Selective in Big Oil Stocks

24/7 Wall St.

Railroad Oil Tank CarsThe short interest data have been released for the May 29 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 May 29 short interest data have been compared with the previous figures, and for the selected stocks, short interest is mixed.

Chevron Corp. (NYSE: CVX) saw its short interest continue to decrease to 16.34 million shares from the previous reading of 17.22 million. The past few readings have been the highest short interest for the past year, until these last couple of readings dropped off from that level. Shares closed Tuesday at $100.42, in a 52-week trading range of $98.88 to $135.10.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest rise to 34.66 million shares from the previous level of 33.4 million. Shares closed Tuesday at…

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