Crude oil traded around $32.77 a barrel early Tuesday, up by about $8 a barrel over the past two weeks. The reopening of the economy, gradual though it may be, coupled with a greater demand for gasoline is pushing prices up.
Of the companies we watch, short interest decreased on three of six energy stocks during the two-week reporting period ending May 15.
Chevron Corp. (NYSE: CVX) saw short interest fall by 6% to 21.3 million shares, which represents about 1.1% of the company’s float. Days to cover fell from two to one. In the two-week short interest period, the stock’s share price rose by 7.9%. Its 52-week range is $51.60 to $127.00, and it traded at $92.05 early Thursday.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 1.0% to 59.7 million shares, or about 1.4% of the company’s float. In the two weeks to May 15, the share price rose by about 4.1%. The stock’s 52-week range is $30.11 to $77.93, and it traded at $45.75 on Thursday.
BP PLC (NYSE: BP) saw an increase of 7% in short interest during the first half of May. About 0.4% of the total float, or 13.0 million American depositary shares, were short, and days to cover remained at one. The company’s shares traded up by 2.0% over the period, and the traded on Thursday at $23.55, in a 52-week range of $15.51 to $42.70.
ConocoPhillips (NYSE: COP) short interest fell by 3.0% in the two weeks. Some 13.6 million shares were short, representing about 1.3% of the company’s total float. Days to cover dipped from two to one, and the stock price jumped by about 15.7% during the period. Shares traded Thursday at $44.25, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, short interest rose by 3.0% during the two-week period. Some 47.2 million ADSs were short as of May 15, about 1.2% of the total float. They traded at $7.65 on Thursday, in a 52-week range of $4.01 to $16.95. Shares soared by around 20.0% in the short interest period, and days to cover remained at one.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest jump by 10.0% to 77.1 million shares. Days to cover remained at two, and about 1.1% of the company’s shares were short. In the first two weeks of May, the share price rose by about 5.2%. The stock’s 52-week range is $9.00 to $54.05, and shares traded Thursday at $14.05.
24/7 Wall St.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.
Latest from 24/7
