Short interest in Chevron
Short interest in Chevron (CVX) has been rising since the beginning of 2016. If we consider the change since mid-September 2016, CVX’s short interest has risen 10%.
This rise indicates that there’s been a rise in bearish sentiment for the stock. However, during the same period, contrary to the market sentiment, Chevron has risen 19%.
In the same period, Chevron’s peer Statoil (STO) has witnessed a 13% rise in its short interest. However, the short interests of Petrobras (PBR), PetroChina (PTR), and Suncor Energy (SU) have fallen 33%, 37%, and 20%, respectively, since mid-September.
All the above stocks have seen rises in their prices. STO, PBR, PTR, and SU have risen 23%, 22%, 19%, 28%, respectively, since mid-September. If you’re looking for exposure to energy sector stocks, you can consider the Energy Select Sector SPDR ETF (XLE).