(COP) - Analyzing ConocoPhillips's Short Interest
Portfolio Pulse from Benzinga Insights
ConocoPhillips (NYSE:COP) has seen a 4.95% decrease in short interest since its last report, with 11.45 million shares sold short, representing 0.96% of its float. The average time to cover these short positions is 2.04 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, ConocoPhillips has a lower short interest as a percentage of float, with the peer group average at 6.25%.
December 11, 2023 | 5:15 pm
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ConocoPhillips's short interest has decreased, which may suggest a more bullish sentiment among investors. The stock has less short interest compared to its peers, which could be perceived positively by the market.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to a potential increase in its price in the short term. Since ConocoPhillips has a lower short interest compared to its peers, this might be viewed as a sign of strength and could positively influence investor sentiment.
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