E&P Short Interest Increases 1.4% - Mizuho Securities

Mizuho Securities analyst Timothy Rezvan highlights short-interest data across the Exploration & Production (E&P) Energy group for the first half of September. According to the latest NYSE data, aggregate short-interest positioning increased 1.4% among the 58 companies in the broad E&P group, even as S&P Exploration & Production ETF (NYSE: XOP) gained 5.5% over the same period.

Three E&P companies experienced short-interest position increases of roughly 15% or more during the first half of September, as Noble Energy (NYSE: NBL) led the way with a 20% increase to 18.5 million shares short at 3.8% of shares outstanding, followed by Pioneer Natural Resources (NYSE: PXD) up 17.7% to 4.6 million shares representing 2.7% of shares outstanding. Third was PDC Energy (NASDAQ: PDCE) with a 14.9% increase to 7.1 million shares at 10.8% of shares outstanding.

Only two E&P companies had double-digit declines in short-interest positioning during the first half of September, as Energen (NYSE: EGN) saw a 19.5% drop to 4.7 million shares at 4.9% percent of shares outstanding, while SandRidge Energy (NYSE: SD) had a 10.1% decrease to 1.5 million shares at 4.2% of shares outstanding.

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