Short interest in ConocoPhillips stock
As of July 13, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~16.01 million. The company’s average daily volume is ~6.62 million. The short interest ratio for ConocoPhillips stock is ~2.42x. In October 2017, the short interest ratio for ConocoPhillips stock made the 52-week high of 5.59x. ConocoPhillips’ short interest ratio made a 52-week low of 2.27x in June. ConocoPhillips stock’s average daily volume is calculated for the short interest reporting period on July 2–13.
Compared to the shares outstanding, the current short interest in ConocoPhillips stock as a percentage of the total shares outstanding is at ~1.37%. Since the beginning of the stock’s rally in August 2017, the short interest in ConocoPhillips stock as a percentage of shares outstanding has decreased from ~2.75% to ~1.37% in almost one year. During this period, ConocoPhillips stock increased ~62%. Short sellers reduced their short bets on ConocoPhillips stock as the stock price increased. Investors might think that the rally in ConocoPhillips stock could go higher.