Crude oil traded at around $59 a barrel early Wednesday. Over the past month, the price of West Texas Intermediate (WTI) crude for immediate delivery has recovered about $8 a barrel, but it remains well below a high of around $63 a barrel in mid-May.
Of the oil companies we watch, short interest rose on four of six stocks during the two-week reporting period ending June 14.
Chevron Corp. (NYSE: CVX) saw short interest rise by 8% to 18.02 million shares, which represents about 1% of the company’s float. Days to cover remained unchanged at two. In the two-week short interest period, the stock’s share price increased by about 5.6%. Its 52-week range is $100.22 to $128.55, and it closed at $123.64 on Tuesday, down about 1% for the day.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 2% to 35.13 million shares, or 0.8% of the company’s float. In the two weeks to June 14, the share price increased by about 5%. The stock’s 52-week range is $64.65 to $87.36, and it closed at $76.27 on Tuesday, down about 0.9% for the day. Days to cover remained unchanged at three.
BP PLC (NYSE: BP) saw a decrease of 6% in short interest during the two-week period. Some 0.1% of the total float, or 4.17 million American depositary shares, were short and days to cover remained at one. The company’s shares traded up by about 0.3% over the two weeks, and shares closed Tuesday at $41.86, down about 0.7% for the day, in a 52-week range of $36.28 to $47.25.
ConocoPhillips (NYSE: COP) short interest fell by 5% in the two weeks to mid-June. Some 8.73 million shares were short, representing about 0.8% of the company’s total float. Days to cover remained unchanged at one, and the stock price rose by a slight 0.2% during the period. Shares closed Tuesday at $59.77, down by about 1.2% for the day, in a 52-week range of $56.75 to $80.24.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, posted a jump of 33% in short interest during the period. Some 34.59 million shares were short as of June 14, about 0.9% of the total float. The stock closed at $15.98 on Tuesday, down by about 3.7% for the day, in a 52-week range of $9.71 to $17.90. Shares traded up by about 5.6% in the short interest period, and days to cover remained unchanged at about two.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest rise by 15% to 38.2 million shares. Days to cover rose from three to four, and about 5.1% of the company’s shares were short. In the first two weeks of June, the share price dropped by about 0.8%. The stock’s 52-week range is $47.00 to $86.60, and shares closed Tuesday at $49.38, down by about 1% for the day.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
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
