Short interest in refining stocks
Refining stocks Marathon Petroleum (MPC), Valero Energy (VLO), and Tesoro (TSO) have seen a rise in their short interest positions in 2017. However, Phillips 66’s (PSX) short interest has fallen. Usually, an increase in short interest indicates an increase in bearish sentiment for a stock.
TSO saw the highest rise in short interest
In term of short interest as a percentage of outstanding shares, Tesoro witnessed the highest rise, from 1.8% on December 30, 2016, to 8.8% on May 5, 2017. In comparison, peers MPC’s and VLO’s short interest has risen 0.4% and 0.7%, respectively. Short interest in PSX fell 0.1%.
During the same period, MPC rose by 1%, while VLO, TSO, and PSX fell 4%, 8%, and 8%, respectively. For refining and marketing sector exposure, you could consider the iShares Global Energy ETF (IXC), which has a ~5% exposure to the refining sector.