uploads/2017/01/COP-3Q16-Short-Interest-1.jpg

Short Sellers Appear Indifferent to ConocoPhillips Stock

By

Updated

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.
Article continues below advertisement

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.

Advertisement

More From Market Realist