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

United States Oil Fund LP (NYSEARCA:USO) shares rose 4.1% on Thursday. The company traded as high as $155.11 and last traded at $154.88. Approximately 2,503,095 shares traded 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: Continued conflict has disrupted oil flows through the Strait of Hormuz, which handles roughly one-quarter of globally shipped oil. Ship-to-ship transfer capacity in the Gulf of Oman has reportedly reached its limit, while Saudi Arabia has redirected exports, increasing the risk of tighter near-term supply and supporting crude prices. Why JPMorgan has given up predicting what the oil markets will do next Gulf of Oman ship-to-ship oil transfers reach limit as Saudi exports surge
• Positive Sentiment: Analysts continue to describe the broader WTI and Brent setup as bullish because of Middle East supply risks. Attacks on energy infrastructure and uncertainty over reopening the Strait of Hormuz could keep a floor under oil prices and benefit USO. WTI and Brent Forecast: Oil Pullback Tests Bullish Support
• Neutral Sentiment: Vietnamese refiner BSR signed a framework crude-supply agreement with ExxonMobil Asia Pacific. The deal supports regional crude demand but is not expected to materially change USO’s near-term performance. Vietnam refinery signs crude oil deal with ExxonMobil Asia Pacific
• Negative Sentiment: Oil pulled back as markets considered the possibility of an Iran truce and efforts to reopen Hormuz. Increased Asian imports and reports of higher U.S. crude inventories also limited the rally, weighing on WTI-linked funds. Oil prices fall as markets look to Iran truce Oil Falls on Larger-Than-Expected Build in U.S. Inventories
• Negative Sentiment: Talk of a U.S. diesel-export ban has widened the discount of U.S. crude futures to Brent. If refiners reduce crude processing because diesel cannot be exported, domestic WTI demand and USO’s underlying futures could face additional pressure. Talk of US export ban on diesel

United States Oil Fund Price Performance

The stock has a 50 day simple moving average of $135.99 and a two-hundred day simple moving average of $129.17. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 19.22 and a beta of -0.02.

Insider Transactions at United States Oil Fund

In other United States Oil Fund news, major shareholder Financial Lp Hrt sold 17,023 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $157.58, for a total transaction of $2,682,484.34. Following the completion of the transaction, the insider owned 128,543 shares of the company’s stock, valued at $20,255,805.94. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RFG Advisory LLC acquired a new position in shares of United States Oil Fund in the second quarter valued at approximately $336,000. Waverly Advisors LLC grew its position in shares of United States Oil Fund by 9.0% during the second quarter. Waverly Advisors LLC now owns 10,722 shares of the company’s stock worth $1,141,000 after buying an additional 885 shares in the last quarter. Irenic Capital Management LP acquired a new stake in United States Oil Fund in the second quarter valued at approximately $4,098,000. Three Seasons Wealth LLC purchased a new stake in shares of United States Oil Fund in the 2nd quarter valued at approximately $556,000. Finally, Professional Financial Advisors LLC purchased a new stake in shares of United States Oil Fund in the 2nd quarter valued at approximately $1,178,000. 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.