Crude oil traded around $37.30 a barrel early Friday, down by about $1.40 a barrel over the past week. The price of crude has now returned to levels last seen in mid-June.
Of the companies we watch, short interest increased on three of six energy stocks during the two-week reporting period ending August 31. Share prices decreased on all six of the stocks during the two-week period.
Chevron Corp. (NYSE: CVX) saw short interest rise by 9% to 18.9 million shares, which represents about 1% of the company’s float. Days to cover rose from two to three. In the two-week short interest period, the stock’s share price dropped by about 5.8%. Its 52-week range is $51.60 to $125.27, and it closed at $78.15 on Thursday, down by about 2.4% for the day.
Exxon Mobil Corp.’s (NYSE: XOM) short interest rose by 9% to 45.6 million shares or about 1.1% of the company’s float. Days to cover remained at two. In the two weeks to August 31, the share price fell by 7.7%. The stock’s 52-week range is $30.11 to $75.18, and it closed at $47.00 on Thursday, down by about 2.5% for the day.
BP PLC (NYSE: BP) saw a drop of 8% in short interest during the latter half of August. About 0.2% of the total float, or 6.3 million American depositary shares (ADSs), were short, and days to cover remained at one. The company’s shares dropped by about 9% over the two weeks, and they closed down by about 2% Thursday at $19.91, in a 52-week range of $15.51 to $40.08.
ConocoPhillips (NYSE: COP) short interest fell by 1% in the final two weeks of August. Some 9.4 million shares were short, representing about 0.9% of the company’s total float. Days to cover remained at two, and the stock price fell by about 7.2% during the period. Shares closed Thursday at $32.92, down by about 4.5%, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, short interest dropped by 2% during the two-week period. Some 27.8 million ADSs were short as of August 31, about 0.8% of the total float. The ADSs closed at $8.34 on Thursday, in a 52-week range of $4.01 to $16.84. They slipped by about 5.1% in the two-week short interest period, and days to cover remained at two.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest rise by 6% to 47.4 million shares. Days to cover remained at two, and about 5.1% of the company’s shares were short. In the two weeks to August 31, the share price fell by about 13%. The stock’s 52-week range is $9.00 to $48.85, and shares closed Thursday at $10.19, down about 8% for the day.
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.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
