Analyzing Short Interest in Cobalt International Energy’s Stock

As of July 14, 2017, Cobalt International Energy’s (CIE) total shares shorted (or short interest) was 4.37 million, whereas its average daily volume is 1.03 million.

Nicholas Chapman - Author
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Aug. 14 2017, Updated 7:36 a.m. ET

uploads///CIE Q Post Short Interest

Short interest in Cobalt International Energy stock

  • As of July 14, 2017, Cobalt International Energy’s (CIE) total shares shorted (or short interest) stood at ~4.37 million, whereas its average daily volume is ~1.03 million. That means the short interest ratio for CIE stock is ~4.23x. The average daily volume here is calculated for the short interest reporting period from July 1, 2017, to July 14, 2017.
  • Cobalt International Energy’s short interest ratio has a 52-week high of 116.1x and a 52-week low of 4.0x.
  • Cobalt International Energy’s short interest as a percentage of its 20-day average volume, 90-day average volume, and 180-day average volume is 7.1x, 5.9x, and 7.0x, respectively.
  • From the perspective of shares outstanding, the current short interest in Cobalt International Energy stock as a percentage of shares outstanding is ~14.4%.
  • Short interest in Cobalt International Energy stock as a percentage of shares outstanding is on the higher side when compared to many other upstream stocks from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
  • As you can see in the above graph, short year-to-date interest in Cobalt International Energy stock as a percentage of shares outstanding has risen from ~13.0% to ~14.4% in 2017, despite an ~87.0% fall in CIE stock during the same period. To know more about CIE stock, refer to Part 5 of this series.
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Other upstream players

CIE’s peers California Resources (CRC), W&T Offshore (WTI), and Southwestern Energy (SWN) have short interest as a percentage of shares outstanding of ~39.1%, ~6.0%, and ~9.8%, respectively. Cobalt International Energy, California Resources (CRC), W&T Offshore (WTI), and Southwestern Energy (SWN) saw increases in their short interest in the last month. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.

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