How Short Interest in ConocoPhillips Stock Is Evolving


Oct. 11 2020, Updated 10:56 a.m. ET

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%.

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Other upstream players

Other upstream companies such as California Resources (CRC), Devon Energy (DVN), and Encana (ECA) have short interest as a percentage of shares outstanding of ~29.8%, ~1.5%, and ~1.7%, 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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