Crude oil traded around $43.15 a barrel early Wednesday, up by about a dollar per barrel over the past week. The price of crude has now returned to levels last seen in mid-March.
Of the companies we watch, short interest decreased on five of six energy stocks during the two-week reporting period ending August 14. Share prices increased on five of the stocks as well during the first half of this month.
Chevron Corp. (NYSE: CVX) saw short interest dip by 3% to 17.28 million shares. That represents less than 1% of the company’s float, and the days to cover figure remained at two. In the two-week short interest period, the stock’s share price rose by about 7.6%. Its 52-week range is $51.60 to $125.27, and it closed at $86.13 on Tuesday, down by about 1.2% for the day.
Exxon Mobil Corp. (NYSE: XOM) short interest tumbled by 14% to 41.8 million shares, or about 1.0% of the company’s float. Days to cover remained at two. In the two weeks to August 14, the share price rose by about 4.7%. The stock’s 52-week range is $30.11 to $75.18, and it closed at $40.88 on Tuesday, down by about 3.2% for the day. Note that this stock is being dropped from the Dow Jones industrial average.
BP PLC (NYSE: BP) saw a drop of 3% in short interest during the two-week period. About 0.6% of the total float, or 6.84 million American depositary shares (ADSs), were short, and days to cover remained at one. The company’s shares added about 5.7% over the two weeks, and shares closed down by about 1.3% Tuesday, at $21.62 in a 52-week range of $15.51 to $40.08.
ConocoPhillips (NYSE: COP) short interest fell by 10% in the first two weeks of August. Some 9.49 million shares were short, representing about 0.9% of the company’s total float. Days to cover remained at two, and the stock price rose by about 9.2% during the period. Shares closed Tuesday at $8.85, down by less than 0.1%, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, short interest dropped by 14% during the two-week period. Some 30.26 million ADSs were short as of August 14, about 0.8% of the total float. They closed at $8.49 on Tuesday in a 52-week range of $4.01 to $16.84. Petrobras slipped by about 0.7% in the short interest period, and days to cover remained at two.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest rise by 11% to 44.53 million shares. Days to cover remained at two, and about 4.8% of the company’s shares were short. In the two weeks to August 14, the share price fell by about 7.0%. Its 52-week range is $9.00 to $48.85, and shares closed Tuesday at $13.51, down by 0.8% for the day.
24/7 Wall St.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
