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Is the Uptrend in ConocoPhillips Stock Just Getting Started?

PART:
1 2 3 4
Part 4
Is the Uptrend in ConocoPhillips Stock Just Getting Started? PART 4 OF 4

Analyzing the Short Interest in ConocoPhillips Stock

Short interest in ConocoPhillips stock

As of September 15, 2017, ConocoPhillips’s (COP) short interest stood at ~33.64 million. Its average daily volume is ~6.06 million. The short interest ratio for ConocoPhillips stock is ~5.55x. Last week, the short interest ratio for ConocoPhillips stock made a new 52-week high. Its short interest ratio has a 52-week low of 1.79x. ConocoPhillips stock’s average daily volume is calculated for the short interest reporting period on September 1–15, 2017.

Analyzing the Short Interest in ConocoPhillips Stock

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Based on the perspective of shares outstanding, the current short interest in ConocoPhillips stock as a percentage of shares outstanding is ~2.8%. Since the start of ConocoPhillips stock’s rally at the beginning of September, the short interest in ConocoPhillips stock as a percentage of shares outstanding has risen from ~2.65% to ~2.76% in two weeks. During this period, ConocoPhillips stock has risen ~7%. Short sellers added to their short bets in ConocoPhillips stock as the stock price increased. Investors might feel that ConocoPhillips’s rally could be short-lived. To learn more about ConocoPhillips stock’s recent price performance, refer to Part 1 in this series.

Putting the short interest in context

As of September 15, 2017, other oil and gas exploration and production companies like California Resources (CRC), Range Resources (RRC), and Southwestern Energy (SWN) have short interest as a percentage of shares outstanding of ~39.4%, ~15.1%, and ~7.8%, respectively. The short interest in ConocoPhillips stock as a percentage of shares outstanding is lower compared to other upstream stocks from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP).

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