Short interest in ConocoPhillips
- As of December 30, 2016, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~14.5 million, whereas its average daily volume is ~4.7 million. Thus, the short interest ratio for COP stock is ~3.1x.
- The current short interest in COP as a percentage of shares outstanding is ~1.2%.
- As seen in the above chart, short interest in ConocoPhillips stock as a percentage of float has fallen from ~3.6% to ~1.2% despite a ~64% increase in its stock price from February 2016 to date.
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 ~27%, ~2%, and ~2%, respectively. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.