Short interest in ConocoPhillips
As of April 28, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~15.7 million. Its average daily volume was ~7.9 million. This means the short interest ratio for COP stock is ~2.0x.
When we look at this from the perspective of shares outstanding, the current short interest in COP as a percentage of shares outstanding is ~1.3%.
As you can see in the above graph, short interest in ConocoPhillips stock as a percentage of shares outstanding has risen from ~1.2% to ~1.3% since the start of 2017. During that period, COP stock has fallen ~4.0%.
Other upstream players
The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.