United States Oil Fund (NYSEARCA:USO) Shares Up 4.1% – Should You Buy?

Shares of United States Oil Fund LP (NYSEARCA:USO) were up 4.1% on Thursday . The stock traded as high as $155.11 and last traded at $154.88. 2,503,095 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 16,080,923 shares. The stock had previously closed at $148.83.

United States Oil Fund News Summary

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: WTI and Brent extended their recovery as Middle East supply risks continued to build, renewing the bullish outlook for crude prices. WTI and Brent Forecast: Oil Bulls Return as Supply Risks Build
• Positive Sentiment: Oil also rebounded on concerns about a global diesel shortage, adding a refined-products demand catalyst to the bullish crude narrative. Oil Rallies as Traders Focus on Global Diesel Shortage
• Positive Sentiment: Investor and commodities commentator Peter Schiff said oil prices could move higher even if the Iran war ends, while forecasting a broader economic downturn. The expectation of prolonged energy strength is supportive for USO, although the downturn outlook presents a risk to future demand. Peter Schiff Predicts Economic Downturn and Higher Oil Prices
• Neutral Sentiment: Oil remains highly sensitive to developments involving Iran. Hopes for U.S.-Iran negotiations and the possibility of reopening the Strait of Hormuz have pressured prices at times, while unresolved tensions continue to provide a risk premium.
• Neutral Sentiment: WTI bounced near technical support and Brent held around $100, but analysts identified resistance levels that could limit further gains if supply concerns ease. WTI and Brent Forecast: Oil Bulls Return at Key Support
• Negative Sentiment: U.S. commercial crude inventories unexpectedly rose by 3 million barrels last week, versus expectations for a 500,000-barrel decline. The build signals softer near-term demand or ample supply and weighs on oil futures. U.S. Crude Oil Stockpiles Post Unexpected Build
• Negative Sentiment: Asia is expected to import its highest crude volume since the start of the Iran war, potentially easing concerns about regional shortages. Saudi Arabia is also restoring supply through a key pipeline, adding downward pressure if disruptions continue to recede.

United States Oil Fund Price Performance

The stock has a market capitalization of $2.01 billion, a PE ratio of 19.22 and a beta of -0.02. The business has a 50 day moving average price of $134.83 and a 200 day moving average price of $128.73.

Insider Activity

In other news, major shareholder Financial Lp Hrt purchased 101,212 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average price of $158.02 per share, for a total transaction of $15,993,520.24. Following the completion of the acquisition, the insider directly owned 61,589 shares in the company, valued at $9,732,293.78. This represents a -255.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 148,833 shares of company stock valued at $23,385,278 and have sold 95,353 shares valued at $14,737,344.

Hedge Funds Weigh In On United States Oil Fund

Hedge funds have recently added to or reduced their stakes in the company. Hamilton Wealth LLC bought a new position in United States Oil Fund in the 1st quarter valued at approximately $55,001,000. Bank of America Corp DE increased its holdings in shares of United States Oil Fund by 117.1% in the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock worth $18,309,000 after purchasing an additional 77,617 shares in the last quarter. Caption Management LLC purchased a new position in shares of United States Oil Fund in the fourth quarter worth $5,201,000. Harvest Fund Management Co. Ltd raised its stake in shares of United States Oil Fund by 33.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock worth $17,030,000 after purchasing an additional 60,569 shares during the last quarter. Finally, Parker Investment Management LLC bought a new position in shares of United States Oil Fund during the first quarter valued at $6,364,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.

United States Oil Fund Company Profile

United States Oil Fund, LP (USO) is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of USO is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange, that is the near month contract to expire, except when the near month contract is within over two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less USO’s expenses.