Crude oil traded around $53.14 a barrel early Monday, down about $5 in the past week and about $3 short of a 52-week low posted last June. Over the past month, the price of West Texas Intermediate (WTI) crude for immediate delivery has tumbled by more than $8 a barrel.
Of the companies we watch, short interest increased on four of six energy stocks during the two-week reporting period ending January 15. Global concerns related to the impact of the coronavirus outbreak first revealed on January 7 have weighed heavily on oil stocks.
Chevron Corp. (NYSE: CVX) saw short interest decrease by 2% to 21.11 million shares, which represents about 1.1% of the company’s float. Days to cover remained unchanged at four. In the two-week short interest period, the stock’s share price dropped by about 3.6%. Its 52-week range is $109.98 to $127.34, and it closed at $110.39 on Monday, down about 1.3% for the day. The 52-week low was posted Monday.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 2% to 39.58 million shares, or 0.9% of the company’s float. In the two weeks to January 15, the share price fell by about 1%. The stock’s 52-week range is $64.70 to $83.49, and it closed at $64.74 on Monday, down about 2.4% for the day. Days to cover remained at three. The 52-week low was posted Monday.
BP PLC (NYSE: BP) saw a drop of 22% in short interest during the first two weeks of January. About 0.1% of the total float, or 3.25 million American depositary shares (ADSs), were short, and days to cover remained less than one. The company’s shares traded up by about 2.6% over the period, and shares closed Monday at $37.44, down by about 1.8% for the day, in a 52-week range of $35.73 to $45.38.
ConocoPhillips (NYSE: COP) short interest increased by 7% in the first half of January. Some 12.18 million shares were short, representing about 1% of the company’s total float. Days to cover remained at two, and the stock price remained essentially flat during the two-week period. Shares closed Monday at $61.04, down about 2.5% for the day, in a 52-week range of $50.13 to $71.01.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, posted a jump of 30% in short interest during the two-week period. Some 23.24 million ADSs were short as of January 15, less than 1% of the total float. Petrobras closed at $14.21 on Monday, down by about 3.8% for the day, in a 52-week range of $12.68 to $17.90. Shares traded down by around 6.7% in the short interest period, and days to cover remained at one.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest soar by 31% to 27.92 million shares. Days to cover rose from two to three, and about 3.1% of the company’s shares were short. In the two weeks of the period, the share price increased by about 14.7%. The stock’s 52-week range is $37.25 to $68.83, and shares closed Monday at $41.24, down by about 1% for the day.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
