Short interest in Occidental Petroleum’s stock fell
On December 30, 2016, Occidental Petroleum’s (OXY) total shares shorted (or short interest) stood at ~12.4 million, whereas its average daily volume was ~3.3 million. This meant that OXY’s short interest ratio was ~3.7x. The 52-week range for OXY’s short interest ratio is 1.9x–5.3x.
When looked at from the perspective of shares outstanding, the current short interest in OXY’s stock as a percentage of its shares outstanding is on the lower side at ~1.6%, compared to all other upstream companies from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
As seen in the above chart, short interest in Occidental Petroleum’s stock as a percentage of its shares outstanding has fallen from ~2.3% to ~1.6%, despite a ~2% fall in its stock price since the first week of November 2016.
Other upstream players
The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.