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Who’s Shorting Chesapeake: What We Can Infer from CHK Short Interest Trends

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Nov. 20 2020, Updated 5:05 p.m. ET

Short interest in Chesapeake Energy stock

On July 21, 2017, the short interest ratio, or short interest as a percentage of float, for Chesapeake Energy (CHK) stock was ~23%. At the beginning of the year, in January 2017, Chesapeake’s short interest ratio was ~12%.

As the graph above shows, Chesapeake’s stock price and the short interest in its stock seem to have moved in opposite directions—for the most part. CHK’s short interest ratio has also risen significantly since the beginning of 2017. This is usually taken as a bearish sign.

A look at Chesapeake Energy’s stock movements during the same period reflects a stark difference in stock prices in the period under discussion. CHK’s stock price on was $6.92 on January 3, while it was $4.69 on July 21.

By comparison, CHK’s peers EQT (EQT) and Antero Resources (AR) have short interest ratios of ~13% and ~10%, respectively.

For ongoing updates, keep checking in with Market Realist’s Upstream Oil and Gas page.

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