Crude oil traded around $39 a barrel early Monday, down by about $2.40 a barrel over the past week. Trading remains in a narrow range right around $40 a barrel, where it’s been stuck for nearly four months.
Of the companies we watch, short interest increased on four of six energy stocks during the two-week reporting period ending October 15. Share prices also increased on four of the six stocks during the two-week period.
Chevron Corp. (NYSE: CVX) saw short interest drop by 16% to 16.4 million shares, which represents about 1.1% of the company’s float. Days to cover fell from three to two. In the two-week short interest period, the stock’s share price rose by about 2.1%. Its 52-week range is $51.60 to $122.94, and it traded at $70.15 on Tuesday.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 4% to 46.6 million shares, or about 1.1% of the company’s float. Days to cover remained at two. In the two weeks to October 15, the share price rose by 0.4%. The stock’s 52-week range is $30.11 to $73.12, and it traded at $33.00 on Tuesday.
BP PLC (NYSE: BP) saw a jump of 30% in short interest during the two-week period. About 0.3% of the total float, or 8.5 million American depositary shares, were short, and days to cover remained at one. The company’s shares fell by about 5.8% over the period, in a 52-week range of $15.42 to $40.08. The low was set Tuesday morning following BP’s third-quarter earnings announcement.
ConocoPhillips (NYSE: COP) short interest increased by 11% in the first half of October. Some 12.1 million shares were short, representing about 1.1% of the company’s total float. Days to cover remained at two, and the stock price rose by about 7.8% during the period. Shares traded Tuesday at $30.35, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A.’s (NYSE: PBR) short interest dropped by 15% during the two-week period. Some 19.7 million ADSs were short as of October 15, about 0.5% of the total float. Petrobras traded at $7.05 on Tuesday, in a 52-week range of $4.01 to $16.84. Shares dipped by 1.5% in the two-week short interest period, and days to cover slipped from two to one.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest decline by 2% to 45.5 million shares. Days to cover remained at two, and about 4.9% of the company’s shares were short. In the two weeks to October 15, the share price rose by about 6%. The stock’s 52-week range is $9.00 to $47.58, and shares traded Tuesday at $9.35.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.