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What to Expect from Southwestern Energy’s 3Q17 Earnings

PART:
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Part 7
What to Expect from Southwestern Energy’s 3Q17 Earnings PART 7 OF 8

Chart in Focus: Falling Short Interest in SWN Stock

Short interest in Southwestern Energy stock

On September 15, 2017, Southwestern Energy’s (SWN) total shares shorted (or short interest) stood at ~39.9 million, and its average daily volume was ~15.6 million. The short interest ratio for SWN stock was ~2.6x. 

Southwestern Energy stock’s average daily volume is calculated for the short interest reporting period from September 1 to September 15, 2017. Southwestern Energy’s short interest ratio has a 52-week high of ~5.5x and a 52-week low of ~2.4x.

Chart in Focus: Falling Short Interest in SWN Stock

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When looked from the perspective of shares outstanding, current short interest in Southwestern Energy stock as a percentage of shares outstanding is ~7.8%. Since the start of 2017, short interest in Southwestern Energy stock as a percentage of shares outstanding has decreased from ~10.3% to ~7.8% in 2017. 

During this time, SWN stock has fallen ~46%. Thus, short sellers are reducing on their short bets in SWN stock as the stock price declined. This trend could mean that the short sellers feel that SWN has fallen enough and that its falling trend might end.

Putting SWN’s short interest in context

On September 15, 2017, natural gas exploration and production companies Consol Energy (CNX) and Range Resources (RRC) had short interest as a percentage of shares outstanding of ~7.1% and ~15.0%, respectively. 

Short interest in Southwestern Energy stock as a percentage of shares outstanding is on the higher side when compared with other oil and gas producers from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP).

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