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Why Southwestern Energy Stock Is Underperforming Natural Gas

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Part 3
Why Southwestern Energy Stock Is Underperforming Natural Gas PART 3 OF 5

Analyzing Short Interest in Southwestern Energy’s Stock

Short interest in Southwestern Energy’s stock

As of May 15, 2017, Southwestern Energy’s (SWN) total shares shorted (or short interest) stood at ~60.37 million, which is ~20% higher than a month ago.

Analyzing Short Interest in Southwestern Energy’s Stock

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The short interest ratio in SWN’s stock is ~2.6x. Short interest ratio, or days to cover, is calculated by dividing total shares shorted by average daily volume between the short interest reporting periods. In this case, SWN’s average daily volume for the short interest reporting period from April 29, 2017, to May 15, 2017, is considered.

The 52-week range for the short interest ratio in SWN’s stock is 2.6x–6.2x.

The current short interest in SWN’s stock as a percentage of shares outstanding is ~11.9%. This level of short interest is slightly on the higher side compared to all other upstream companies from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP).

Since the start of 2017, the short interest in Southwestern Energy’s stock as a percentage of shares outstanding has risen from ~10.3% to ~11.9% despite ~32% decrease in its stock price.

Other upstream players

Range Resources (RRC), Consol Energy (CNX), and Encana (ECA) have short interest as a percentage of shares outstanding of ~8.2%, ~12.2%, and ~1.8%, 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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