Crude oil was trading right around $54 a barrel early on Tuesday. Over the past month, crude has fluctuated incredibly, following the markets lower for the most part. However, it is worth pointing out that the current crude price still pales in comparison to what it was in 2014.
The January 31 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 17.32 million shares from the previous reading of 20.55 million. The shares were trading at $118.69 early Tuesday, in a 52-week range of $100.22 to $131.08.
Short interest in Exxon Mobil Corp. (NYSE: XOM) dropped to 26.80 million shares from the previous level of 31.18 million. The stock traded at $75.04, within a 52-week range of $64.65 to $87.36.
BP PLC (NYSE: BP) short interest increased to 7.04 million shares from the previous level of 6.04 million. Shares traded at $42.56, in a 52-week range of $36.28 to $47.83.
The number of ConocoPhillips (NYSE: COP) shares short decreased to 10.90 million from the previous 13.90 million. Shares were trading at $68.09, within a 52-week range of $52.54 to $80.24.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, shrank to 27.11 million shares from the previous 38.23 million. The stock traded at $15.96 a share, in a 52-week range of $9.02 to $17.20. 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 12.07 million shares from the previous reading of 15.53 million. Shares recently traded at $66.16, in a 52-week range of $56.83 to $87.67.
ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored)
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.