Franchise GP Ltd purchased a new stake in shares of United States Oil Fund LP (NYSEARCA:USO – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,870 shares of the company’s stock, valued at approximately $5,953,000. United States Oil Fund makes up about 2.5% of Franchise GP Ltd’s investment portfolio, making the stock its 14th biggest position. Franchise GP Ltd owned 0.33% of United States Oil Fund as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Parallel Advisors LLC purchased a new position in United States Oil Fund in the 1st quarter worth approximately $57,000. Fifth Third Bancorp increased its stake in United States Oil Fund by 11.6% during the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock worth $142,000 after acquiring an additional 116 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of United States Oil Fund during the 1st quarter valued at approximately $205,000. Main Street Group LTD bought a new position in shares of United States Oil Fund during the 1st quarter valued at approximately $223,000. Finally, Bank of Nova Scotia bought a new position in shares of United States Oil Fund during the 1st quarter valued at approximately $249,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.
United States Oil Fund News Roundup
Here are the key news stories impacting United States Oil Fund this week:
- Positive Sentiment: U.S. commercial crude inventories fell by 8.6 million barrels in the latest week, significantly tightening the near-term supply picture. Lower production and imports, combined with stronger refinery utilization, helped support WTI prices. U.S. Crude Oil Stockpiles Post Large Weekly Drop
- Positive Sentiment: Attacks and shipping disruptions near the Strait of Hormuz continue to raise the risk of additional supply interruptions and higher transportation costs. Analysts cited the inventory draw and geopolitical tensions as potential catalysts for WTI to challenge the $98.23 level and eventually approach $100. Natural Gas and Oil Forecast: 8.6M Barrel Draw, Hormuz Risk, Can WTI Break $98.23?
- Positive Sentiment: Technical momentum has improved, with WTI breaking out of a falling-wedge pattern and moving averages supporting the bullish reversal. This improves the near-term outlook for oil-linked funds such as USO. WTI Price Forecast: Crude Oil Targets $100 as Bullish Momentum Builds
- Neutral Sentiment: Oil traders are balancing the supply risks against the International Energy Agency’s plan to accelerate releases from emergency stockpiles, including more than 20 million barrels of diesel and a total release expected to exceed 400 million barrels. The releases could limit price gains if they reach markets quickly. IEA says total oil stock release will exceed 400 million barrels
- Negative Sentiment: Possible U.S. sanctions relief for “shadow fleet” tankers, improving Middle East supply flows, and Saudi Aramco’s offer of additional European cargoes could reduce freight costs and ease concerns about crude availability. These developments contributed to recent downward pressure on oil prices. Oil edges down as investors weigh possible US sanctions on shadow fleet
United States Oil Fund Stock Performance
NYSEARCA:USO opened at $157.31 on Friday. The stock’s fifty day moving average is $142.29 and its 200 day moving average is $132.54. United States Oil Fund LP has a fifty-two week low of $65.99 and a fifty-two week high of $163.35. The firm has a market capitalization of $1.92 billion, a PE ratio of 19.22 and a beta of 0.01.
Insider Buying and Selling
In other news, major shareholder Financial Lp Hrt acquired 101,212 shares of the business’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $158.02 per share, for a total transaction of $15,993,520.24. Following the completion of the transaction, the insider directly owned 61,589 shares of the company’s stock, valued at approximately $9,732,293.78. The trade was a -255.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have acquired 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.
United States Oil Fund 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.
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