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How Occidental Stock Performed Last Week

PART:
1 2 3 4 5
Part 4
How Occidental Stock Performed Last Week PART 4 OF 5

Short Sellers and Occidental Petroleum Stock

Short interest in OXY

As of July 31, 2017, Occidental Petroleum’s (OXY) total shares shorted (or short interest) stood at ~10.2 million, while its average daily volume was ~4.8 million. This means its short interest ratio is ~2.7x.

This average daily volume has been calculated for the short interest reporting period from July 15, 2017, to July 31, 2017.

Short Sellers and Occidental Petroleum Stock

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Occidental Petroleum’s short interest ratio has a 52-week low of 1.98x and 52-week high of 4.80x. Its short interest as a percentage of its 20-day average volume, 90-day average volume, and 180-day average volume is 2.79x, 2.25x, and 2.15x, respectively.

When looked from the perspective of shares outstanding, the current short interest in OXY stock as a percentage of shares outstanding is now ~1.33%.

The takeaway

Short interest in OXY stock as a percentage of shares outstanding is lower than those of many other upstream stocks from ghe SPDR S&P Oil and Gas Exploration & Production ETF (XOP).

OXY stock as a percentage of shares outstanding has fallen from ~1.63% to ~1.33% in 2017, despite the ~14% decline in OXY’s stock price during the same period.

Other upstream players

As of July 31, 2017, oil and gas exploration and production peers W&T Offshore (WTI), California Resources (CRC), and Southwestern Energy (SWN) have short interest as a percentage of shares outstanding of ~5.3%, ~38.0%, and ~8.3%, respectively. Like Occidental Petroleum, Southwestern Energy (SWN) and W&T Offshore (WTI) have seen declines in their short interest over the past month.

Notably, the Direxion Daily S&P Oil & Gas Exploration & Production Bear 3x Shares (DRIP) is a leveraged inverse ETF that invests in oil and gas exploration and production companies, while the ETF ISE-Revere Natural Gas Index Fund (FCG) invests in natural gas producers.

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