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Analyzing Short Interest in Cobalt International Energy Stock

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Short interest in Cobalt International Energy stock

As of March 23, 2017, Cobalt International Energy’s (CIE) total shares shorted (or short interest) was ~66.3 million. Its average daily volume was ~9.4 million. That means the short interest ratio in CIE stock is ~7.1x. The 52-week range for the short interest ratio in CIE stock is 5.7x–13.9x.

The current short interest in CIE stock as a percentage of shares outstanding is on the high side at ~14.8% compared to all other upstream companies from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

In 1Q17, short interest in CIE stock as a percentage of shares outstanding rose from ~11.5% to ~14.8%, despite a ~58.0% fall in the stock.

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Other upstream players

Other upstream companies such as California Resources (CRC), Devon Energy (DVN), and Encana (ECA) have short interest as a percentage of shares outstanding of ~28.2%, ~1.5%, and ~1.8%, respectively. 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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