uploads///COP WU_ Short Interest

Analyzing the Short Interest in ConocoPhillips Stock

By

Aug. 15 2017, Updated 6:37 a.m. ET

Short interest in ConocoPhillips stock

  • As of July 31, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) was ~31.6 million, and its average daily volume was ~8.0 million. That means the short interest ratio for COP stock is ~3.94x. The average daily volume is calculated for the short interest reporting period from July 15, 2017, to July 31, 2017.
  • ConocoPhillips’s short interest ratio has a 52-week low of 1.79x and a 52-week high of 3.94.
  • ConocoPhillips’s short interests as a percentage of its 180-day average volume, 90-day average volume, and 20-day average volume are 4.00x, 3.92x, and 4.02x, respectively.
  • From the perspective of shares outstanding, the current short interest in ConocoPhillips stock as a percentage of shares outstanding is ~2.5%.
  • Short interest in ConocoPhillips stock as a percentage of shares outstanding is on the lower side compared to many other oil and gas producer stocks in the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
  • As you can see in the above graph, short interest in ConocoPhillips stock as a percentage of shares outstanding has risen from ~1.17% to ~2.51% in 2017, despite an ~11.0% fall in COP stock during the same period. To know more about COP’s stock performance last week, refer to Part 1 of this series.
Article continues below advertisement

Other upstream players

Other oil and gas exploration and production companies such as California Resources (CRC), Southwestern Energy (SWN), and Range Resources (RRC) have short interests as a percentage of shares outstanding of ~38.3%, ~8.3%, and ~9.8%, respectively. Like ConocoPhillips, Southwestern Energy (SWN) and Range Resources (RRC) saw their short interests fall 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.

Advertisement

More From Market Realist