(OXY) - Analyzing Occidental Petroleum's Short Interest
Portfolio Pulse from Benzinga Insights
Occidental Petroleum's (NYSE:OXY) short percent of float has fallen 3.84% since its last report, with 45.63 million shares sold short, which is 9.27% of all regular shares available for trading. It would take traders 5.58 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 0.38% for its peer group.
August 17, 2023 | 7:00 pm
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Occidental Petroleum's short interest has decreased, indicating a potentially more bullish market sentiment towards the stock. However, it has more short interest than most of its peers.
A decrease in short interest usually indicates a more bullish sentiment towards a stock, as fewer traders are betting on its price to fall. However, Occidental Petroleum's higher short interest compared to its peers could indicate a more bearish sentiment specifically towards it, balancing out the potential impact.
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