Crude oil traded around $47.20 a barrel Thursday morning, up by about $1.70 (about 3.7%) a barrel over the past week. The price of crude had traded between about $45.20 and $46.50 for the past week.
Of the companies we watch, short interest increased on three of six energy stocks during the two-week reporting period ending November 30.
Chevron Corp. (NYSE: CVX) saw short interest rise by 12% to 16.5 million shares, which represents about 1.1% of the company’s float. Days to cover remained at two. In the two-week short interest period, the share price rose by about 6.5%. The stock’s 52-week range is $51.60 to $122.72, and it closed at $90.44 on Wednesday.
Exxon Mobil Corp. (NYSE: XOM) short interest dropped by 7% to 47.4 million shares, or about 1.1% of the company’s float. Days to cover remained at two. In the two weeks to November 30, the share price rose by 5.7%. The 52-week trading range is $30.11 to $71.37, and shares closed at $42.80 on Wednesday.
BP PLC (NYSE: BP) saw a drop of 20% in short interest during the two-week period. About 0.2% of the total float, or 6.5 million American depositary shares, were short, and days to cover remained at one. The company’s shares rose by about 4% over the period, and they closed Wednesday at $21.90, in a 52-week range of $14.74 to $40.08.
ConocoPhillips (NYSE: COP) short interest increased by 12% in the latter half of November. Some 38.8 million shares were short, representing about 3.6% of the company’s total float. Days to cover remained at four, and the stock price rose by nearly 12% during the two weeks. Shares closed Wednesday at $42.70, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A. (NYSE: PBR) short interest fell by 22% during the two-week period. Some 26.4million ADSs were short as of November 30, about 0.7% of the total float. Petrobras closed at $10.56 on Wednesday, in a 52-week range of $4.01 to $16.30. It added 12.2% in the two-week short interest period, and days to cover remained at two.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest increase by 2% to 35.3 million shares. Days to cover remained at two, and about 3.7% of the company’s shares were short. In the two weeks to November 30, the share price jumped by more than 33%. The stock’s 52-week range is $8.52 to $47.58, and shares closed Wednesday at $19.39.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.