JP Morgan holds 11% of ROC.
The fact that ROC hasn't rallied at all since crude started recovering in mid-Feb indicates it's not on a level playing field.
Most likely explanation is that JPM bought the stock, so that they could loan it out to their hedge fund clients, so those clients could sell it short into the market.
JPM is certainly not a buy and hold investor of relatively small Australian oil companies. It's primarily a derivative writer and a hedge fund enabler.
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