Since the election was decided with Trump taking the White House, short interest for major oil stocks is now more important than ever to follow.
Recently, crude oil has flirted with the $55 a barrel level, which is a step in the right direction. Still this is less than half of what it was in 2014. However, the prospect for this industry is promising. Wells Fargo sees a positive outlook for most of these companies. 24/7 Wall St. has even evaluated the bullish and bearish case for the two Dow stocks on this list.
The January 13 short interest data have been compared with the previous figures, and short interest moves for most of the selected oil stocks were down.
Chevron Corp. (NYSE: CVX) saw its short interest decrease to 29.84 million shares from the previous reading of 31.66 million. The shares were last seen at $117.44, in a 52-week trading range of $79.85 to $119.00.
Short interest in Exxon Mobil Corp. (NYSE: XOM) decreased to 35.02 million shares from the previous 37.78 million. The stock was trading at $85.74, within a 52-week range of $73.55 to $95.55.
BP PLC (NYSE: BP) short interest increased to 14.22 million shares from the previous reading of 12.43 million. Shares were recently at $36.93, in a 52-week range of $27.01 to $38.68.
The number of ConocoPhillips (NYSE: COP) shares short increased to 14.81 million from the previous level of 14.48 million. Shares were trading at $50.68, within a 52-week range of $31.05 to $53.17.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 63.82 million shares from the previous 67.99 million. The stock traded at $11.02 a share, in a 52-week range of $2.84 to $12.56. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its ongoing woes in Brazil.
Occidental Petroleum Corp.’s (NYSE: OXY) short interest decreased to 12.06 million shares from the previous reading of 12.42 million. Shares were recently at $68.13, in a 52-week range of $63.24 to $78.48.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
