Crude oil is back above $66 a barrel after suffering through a rough March, and before this oil had not been at this price level in over two years. We saw crude actually tack on about a 3% gain earlier this week, begging the question of whether the $70 price level is just around the corner. Recent Middle East tensions have helped push the price higher as well. The current crude price still pales in comparison to what it was in 2014.
The March 29 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks decreased.
Chevron Corp. (NYSE: CVX) saw its short interest decrease to 21.92 million shares from the previous reading of 24.23 million. The shares were last seen trading at $118.85, in a 52-week range of $102.55 to $133.88.
Short interest in Exxon Mobil Corp. (NYSE: XOM) retreated to 31.25 million shares from the previous 34.26 million. The stock traded at $77.07, within a 52-week range of $72.16 to $89.30.
BP PLC (NYSE: BP) short interest fell to 5.36 million shares from the previous reading of 6.21 million. Shares traded at $42.78, in a 52-week range of $33.83 to $44.62.
The number of ConocoPhillips (NYSE: COP) shares short rose to 23.91 million from the previous level of 22.65 million. Shares were trading at $62.34, within a 52-week range of $42.27 to $63.00.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, decreased to 31.85 million shares from the previous 37.31 million. The stock traded at $14.01 a share, in a 52-week range of $7.61 to $14.93. 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 9.91 million shares from the previous reading of 10.28 million. Shares recently traded at $70.51, in a 52-week range of $57.20 to $78.09.
24/7 Wall St.Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
