ARCA:USO

Stock Analysis Report

Executive Summary

United States Oil Fund LP is an exchange traded product launched and managed by United States Commodity Funds LLC.

Rewards


Snowflake Analysis

Share Price & News

How has United States Oil Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: USO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-12.4%

USO

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

-16.1%

USO

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: USO underperformed the US Capital Markets industry which returned 4.9% over the past year.

Return vs Market: USO underperformed the US Market which returned 5.2% over the past year.


Shareholder returns

USOIndustryMarket
7 Day-12.4%-8.6%-10.6%
30 Day-12.4%-7.9%-8.5%
90 Day-15.8%-4.4%-4.6%
1 Year-16.1%-16.1%7.1%4.9%7.4%5.2%
3 Year-13.4%-13.4%25.5%18.4%31.7%23.2%
5 Year-46.4%-46.4%65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is United States Oil Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is United States Oil Fund undervalued compared to its fair value and its price relative to the market?

2.5x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: USO ($9.78) is trading above our estimate of fair value ($7.07)

Significantly Below Fair Value: USO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: USO is good value based on its PE Ratio (2.5x) compared to the Capital Markets industry average (30.2x).

PE vs Market: USO is good value based on its PE Ratio (2.5x) compared to the US market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate USO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: USO is good value based on its PB Ratio (0.8x) compared to the US Capital Markets industry average (6.2x).

Future Growth

How is United States Oil Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.9%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as United States Oil Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has United States Oil Fund performed over the past 5 years?

39.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: USO has a high level of non-cash earnings.

Growing Profit Margin: USO became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: USO has become profitable over the past 5 years, growing earnings by 39.9% per year.

Accelerating Growth: USO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: USO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.5%).


Return on Equity

High ROE: USO's Return on Equity (40.4%) is considered outstanding.


Return on Assets


Return on Capital Employed

Financial Health

How is United States Oil Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: USO has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if USO's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: USO is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: USO is profitable, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: USO's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if USO has a sufficient allowance for bad loans.

Low Risk Liabilities: USO reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if USO has an acceptable proportion of non-loan assets held.

Low Risk Deposits: USO has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if USO has an appropriate level of bad loans.

Dividend

What is United States Oil Fund's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.6%markettop25%4.1%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate USO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate USO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if USO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if USO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of USO's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Management

How experienced are the management team and are they aligned to shareholders interests?

13.8yrs

Average management tenure


CEO

United States Oil Fund has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Andrew Ngim
Chief Operations Officer14.8yrsno datano data
Howard Mah
CFO, Secretary14.8yrsno datano data
Ray Allen
Portfolio Manager9.9yrsno datano data

13.8yrs

Average Tenure

58yo

Average Age

Experienced Management: USO's management team is seasoned and experienced (13.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Howard Mah
CFO, Secretary14.8yrsno datano data
Gordon Ellis
Independent Director of United States Commodity Funds LLC14.4yrsUS$66.56kno data
Nicholas Gerber
Chairman0yrsno datano data
Peter Robinson
Independent Director of United States Commodity Funds LLC14.4yrsUS$66.56kno data
Malcolm Fobes
Independent Director of United States Commodity Funds LLC14.4yrsUS$79.87kno data

14.4yrs

Average Tenure

57yo

Average Age

Experienced Board: USO's board of directors are seasoned and experienced ( 14.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

United States Oil Fund LP's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • United States Oil Fund LP
  • 1320 Harbor Bay Parkway
  • Suite 145
  • Alameda
  • California
  • 94502
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
USOARCA (NYSE Arca)YesLimited Partnership UnitsUSUSDApr 2006
USO *BMV (Bolsa Mexicana de Valores)YesLimited Partnership UnitsMXMXNApr 2006
0LJ5LSE (London Stock Exchange)YesLimited Partnership UnitsGBUSDApr 2006

Biography

United States Oil Fund LP is an exchange traded product launched and managed by United States Commodity Funds LLC. The fund invests in the commodity markets of the United States. It takes long and short positions and also uses futures contract to invest in light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels. The fund employs market neutral investment strategy to create its portfolio. It seeks to track the daily performance of the spot 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 two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire. United States Oil Fund LP was formed on May 12, 2005 and is domiciled in the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 00:33
End of Day Share Price2020/02/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.