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Oil Stocks: Still Shorting After All These Years

Sterne Agee CRT’s Tim Rezvan notes that not investors still love to short oil & gas stocks–especially Chesapeake Energy (CHK)–and have been rapidly increasing their short positions in Approach Resources (AREX), Occidental Petroleum (OXY), and Energen (EGN). He explains:

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Short Interest For E&Ps Remains at Record High. Aggregate short interest across the broad universe of E&P stocks remained unchanged since its record level at the end of August and has increased in 15 of the last 18 measurement periods...