Analyzing Short Interest in Occidental Petroleum Stock

Short interest in Occidental Petroleum’s stock

On June 30, 2017, Occidental Petroleum’s (OXY) short interest stood at ~10.5 million, and its average daily volume was ~5.3 million, meaning that its short interest ratio was ~2.0x. The average daily volume was based on the volume between June 16 and June 30, 2017

Analyzing Short Interest in Occidental Petroleum Stock

  • Occidental Petroleum’s short interest ratio has a 52-week high of 4.8x and a 52-week low of 2.0x
  • Occidental Petroleum’s short interest as a percentage of its 20-day average volume, 90-day average volume, and 180-day average volume is 3.1x, 2.3x, and 2.2x, respectively
  • short interest in Occidental Petroleum’s stock as a percentage of shares outstanding is ~1.4%
  • Occidental Petroleum’s short interest is much lower than that of other upstream stocks from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP)
  • short interest in Occidental Petroleum stock as a percentage of shares outstanding has fallen from ~1.6% to ~1.4% in 2017, despite a ~16% fall in OXY’s stock price

Other upstream players

Oil and gas exploration and production companies Devon Energy (KOS), W&T Offshore (WTI), and Marathon Oil (MRO) have short interest as a percentage of shares outstanding of ~2.0%, ~7.4%, and ~6.1%, respectively. Like Occidental Petroleum, Devon Energy and Marathon Oil have seen an increase in their short interest in the last month. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector. In the next part, we’ll take a look at OXY’s recent Wall Street ratings.