
Crude oil traded at around $59 a barrel early Wednesday. Over the past month, the price of West Texas Intermediate (WTI) crude for immediate delivery has recovered about $8 a barrel, but it remains well below a high of around $63 a barrel in mid-May.
Of the oil companies we watch, short interest rose on four of six stocks during the two-week reporting period ending June 14.
Chevron Corp. (NYSE: CVX) saw short interest rise by 8% to 18.02 million shares, which represents about 1% of the company’s float. Days to cover remained unchanged at two. In the two-week short interest period, the stock’s share price increased by about 5.6%. Its 52-week range is $100.22 to $128.55, and it closed at $123.64 on Tuesday, down about 1% for the day.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 2% to 35.13 million shares, or 0.8% of the company’s float. In the two weeks to June 14, the share price increased by about 5%. The stock’s 52-week range is $64.65 to $87.36, and it closed at $76.27 on Tuesday, down about 0.9% for the day. Days to cover remained unchanged at three.
BP PLC (NYSE: BP) saw a decrease of 6% in short interest during the two-week period. Some 0.1% of the total float, or 4.17 million American depositary shares, were short and days to cover remained at one. The company’s shares traded up by about 0.3% over the two weeks, and shares closed Tuesday at $41.86, down about 0.7% for the day, in a 52-week range of $36.28 to $47.25.
ConocoPhillips (NYSE: COP) short interest fell by 5% in the two weeks to mid-June. Some 8.73 million shares were short, representing about 0.8% of the company’s total float. Days to cover remained unchanged at one, and the stock price rose by a slight 0.2% during the period. Shares closed Tuesday at $59.77, down by about 1.2% for the day, in a 52-week range of $56.75 to $80.24.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, posted a jump of 33% in short interest during the period. Some 34.59 million shares were short as of June 14, about 0.9% of the total float. The stock closed at $15.98 on Tuesday, down by about 3.7% for the day, in a 52-week range of $9.71 to $17.90. Shares traded up by about 5.6% in the short interest period, and days to cover remained unchanged at about two.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest rise by 15% to 38.2 million shares. Days to cover rose from three to four, and about 5.1% of the company’s shares were short. In the first two weeks of June, the share price dropped by about 0.8%. The stock’s 52-week range is $47.00 to $86.60, and shares closed Tuesday at $49.38, down by about 1% for the day.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.