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How ConocoPhillips Will Benefit from San Juan Divestiture

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Part 8
How ConocoPhillips Will Benefit from San Juan Divestiture PART 8 OF 9

How Short Interest in ConocoPhillips Stock Is Trending

Short interest in ConocoPhillips

  • As of April 3, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~15.7 million, whereas its average daily volume is ~8.7 million. This means the short interest ratio for COP’s stock is ~1.8x. Currently, COP’s short interest ratio is at a 52-week low.

How Short Interest in ConocoPhillips Stock Is Trending

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  • From the perspective of shares outstanding, current short interest in COP as a percentage of shares outstanding is at ~1.3%.
  • As seen in the above chart, year-to-date, short interest in ConocoPhillips stock as a percentage of shares outstanding has risen from ~1.2% to ~1.3% despite the ~1% decrease in COP’s stock price.

Other upstream players

Other upstream companies like California Resources (CRC), Devon Energy (DVN), and Encana (ECA) have short interest as a percentage of shares outstanding of ~29.8%, ~1.7%, and ~1.9%, respectively. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.

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