11 Apr

Has Short Interest in Chevron Plunged?

WRITTEN BY Maitali Ramkumar

Short interest in Chevron

Short interest in Chevron (CVX) has fallen by 0.22 percentage points since January 2, 2019, to the current level of 0.90%.

Usually, a fall in short interest implies a fall in the bearish sentiments in a stock. Over the same period, Chevron stock has risen 13.4%.

Has Short Interest in Chevron Plunged?

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Why the fall in bearish sentiments in Chevron?

Since January 2, bearish sentiments in Chevron have fallen—likely due to rises in oil prices and equity markets. WTI, the benchmark oil, has risen 38.8% since January 2. The rise in the markets has likely affected investors’ sentiments. The SPDR S&P 500 ETF (SPY), which resembles the S&P 500 Index, has risen 15.2% since January 2.

Peers’ short interests

Short interest in Chevron’s peer Equinor (EQNR) has fallen 0.03 percentage points since January 2 to 0.14%. The short interests in Petrobras (PBR) and PetroChina (PTR) have dropped 0.01 percentage points and 0.05 percentage points, respectively, since January 2. Currently, the short interests in Petrobras and PetroChina stand at 0.81% and 0.06%, respectively.

Since January 2, the stock prices of Equinor, Petrobras, and PetroChina have risen 6.8%, 21.3%, and 10.1%, respectively.

Pre-earnings summary

Wall Street analysts expect Chevron to post dull first-quarter earnings results, likely due to weaker upstream earnings led by lower oil prices and partly offset by higher volumes. Despite their rise in the first quarter, oil prices stand lower on a quarterly average basis.

Chevron stock has risen marginally since March 8. Many analysts have provided “buy” ratings on Chevron stock ahead of its earnings presumably due to its robust upstream portfolio and strong financials.

Chevron’s dividend yield stands at 3.8% ahead of its earnings release. Short interest in Chevron has fallen since the beginning of the first quarter likely due to rises in oil prices and equity markets.

Latest articles

This year, Pfizer (PFE) stock has fallen 0.34% and Bristol-Myers Squibb (BMY) stock has fallen 6.48%. Both companies are focused on strengthening their position in the high-growth oncology and immunology markets. Let's take a closer look at each.

Walt Disney’s (DIS) latest movie, Toy Story 4, has reportedly broken records in the opening weekend with $118 million in sales. However, the opening weekend collection was behind analysts’ expectations of at least $150 million in the first weekend.

24 Jun

Will Home Depot’s Upward Momentum to Continue?

WRITTEN BY Rajiv Nanjapla

As of June 21, Home Depot (HD) was trading at $209.39, which implies a rise of 9.7% since the announcement of its first-quarter earnings on May 21. Also, the company was trading at a premium of 32.4% from its 52-week low of $158.09 and a discount of 2.8% from its 52-week high of $215.43.

On June 21, Aurora Cannabis (ACB) made an announcement that indicated that it will move towards higher margin vape products. In addition, the company also believes concentrates and edibles will command higher margins. In anticipation of this development, the company announced the expansion of its facility to capitalize on growth related to these segments.

Shares of Mondelēz International (MDLZ) are scaling new heights thanks to its stellar gains so far this year. Mondelēz stock is up 38.0% on a YTD (year-to-date) basis, and it closed at $55.25—just a shade lower than its 52-week high of $55.71—on June 21.

24 Jun

How Long Will Facebook's Libra Fuel Bitcoin Rally?

WRITTEN BY Mayur Sontakke, CFA, FRM

Ever since the news about Facebook’s (FB) cryptocurrency project broke, Bitcoin has rallied on the hope that Facebook’s entry in the space will help make cryptocurrencies mainstream. Facebook’s cryptocurrency will be called Libra and will be governed by an association with 28 founding members across industries.

172.31.16.229