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Analyzing the Short Interest in Cobalt International Energy Stock

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Apr. 18 2017, Updated 7:38 a.m. ET

Short interest in Cobalt International Energy’s stock

On March 31, 2017, Cobalt International Energy’s (CIE) total shares shorted (or short interest) stood at ~72.1 million, whereas its average daily volume was ~11.7 million. This meant that the short interest ratio in CIE stock was ~6.1x. The 52-week range for the stock’s short interest ratio was 5.7x–13.9x.

The current short interest in CIE stock as a percentage of its shares outstanding was on the high side at ~16.1%, compared to all other upstream companies from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

In 1Q17, the short interest in Cobalt International Energy stock as a percentage of its shares outstanding rose from ~11.5% to ~16.1%, despite a ~46% fall in its stock price.

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Other upstream players

Other upstream companies California Resources (CRC), Devon Energy (DVN), and Encana (ECA) have short interests as percentages of their shares outstanding of ~29.8%, ~1.7%, and ~1.9%, 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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