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Cobalt International Energy Stock: Analyzing Short Interest

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May. 31 2017, Updated 7:39 a.m. ET

Short interest in Cobalt International Energy’s stock

As of May 15, 2017, the short interest ratio in Cobalt International Energy’s (CIE) stock is ~9.1x. The 52-week range for the short interest ratio in CIE’s stock is 6.1x–13.9x. The short interest ratio is calculated by dividing total shares shorted (or short interest) by its average daily volume between short interest reporting periods.

Cobalt International Energy’s (CIE) total shares shorted (or short interest) stood at ~83.77 million, whereas its average daily volume is ~9.2 million.

The current short interest in CIE’s stock as a percentage of shares outstanding is ~18.9%. This level of short interest is on the higher side compared to all other oil and gas producers from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP).

So far in 2017, short interest in Cobalt International Energy’s stock as a percentage of shares outstanding has increased from ~12.95% to ~18.9% despite a ~75% decrease in its stock price.

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Other upstream players

W&T Offshore (WTI), Kosmos Energy (KOS), and Murphy Oil (MUR) have short interest as a percentage of shares outstanding of ~4.5%, ~8.4%, and ~15.3%, 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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