California Resources’ short interest
On December 21, 2016, California Resources’ total shares shorted, also known as its short interest, stood at ~13.7 million. Its average daily volume was ~2.8 million, meaning that its short interest ratio was ~4.85x.
The company’s current short interest as a percentage of its shares outstanding is ~33.3%, the highest out of all other upstream companies that make up the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
As seen in the chart above, California Resources’ short interest as a percentage of its shares outstanding has fallen sharply, from ~41% to ~33%, despite the ~90% rise in its stock price since the first week of November 2016.