Crude oil traded around $40.20 a barrel early Friday, down by about $0.50 a barrel over the past week. Trading remains in a narrow range right around $40 a barrel where it’s been stuck for about three months.
Of the companies we watch, short interest increased on three of six energy stocks during the two-week reporting period ending September 15. However, share prices decreased on five of the six stocks during those two weeks.
Chevron Corp. (NYSE: CVX) saw short interest rise by 10.5% to 20.8 million shares, which represents about 1.1% of the company’s float. Days to cover remained at three. In the short interest period through September 15, the stock’s share price dropped by about 9%. Its 52-week range is $51.60 to $122.94, and it closed at $71.80 on Thursday, down by about 0.2% for the day.
Exxon Mobil Corp.’s (NYSE: XOM) short interest fell by 8% to 42.1 million shares, or about 1% of the company’s float. Days to cover remained at two. In the first two weeks of September, the share price fell by 9.2%. The stock’s 52-week range is $30.11 to $73.12, and it closed at $34.32 on Thursday, down by about 0.2% for the day.
BP PLC (NYSE: BP) had a rise of 3% in short interest during the period. About 0.2% of the total float, or 6.4 million American depositary shares (ADSs) were short, and days to cover remained at one. The company’s shares dropped by about 6.1% over the two-week period. They closed down by about 2% Thursday, at $17.93 in a 52-week range of $15.51 to $40.08.
ConocoPhillips (NYSE: COP) short interest fell by 4% in those two weeks. Some 9 million shares were short, representing about 0.8% of the company’s total float. Days to cover remained at two, and the stock price fell by about 10.8% during the period. Shares closed Thursday at $33.60, up by about 2.1%, in a 52-week range of $20.84 to $67.13.
Petróleo Brasileiro S.A.’s (NYSE: PBR) short interest dropped by 39% during the two-week period. Some 18 million ADSs were short as of September 15, about 0.5% of the total float. They rose by about 1.2% in the short interest period, and days to cover dipped from two to one. Petrobras closed at $7.63 on Thursday, in a 52-week range of $4.01 to $16.84.
Occidental Petroleum Corp. (NYSE: OXY) saw short interest rise by 5% to 49.7 million shares. Days to cover remained at two, and about 5.4% of the company’s shares were short. In the two weeks to September 15, the share price fell by nearly 16%. The stock’s 52-week range is $9.00 to $47.58, and shares closed Thursday at $10.64, up by about 2.2% 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
