RE:Short interest in CPG versus other O&G companiesThanks for pulling this together. I liked your comment about risk management. I think people often forget that some serious traders are both long and short on stock at the same time.
I had a colleague who would only short companies he liked - just in case it didn't work out and he'd get stuck owning it. That's not typically what people think motivates a short seller. Smart guy, actually but a bit risk adverse for my tastes. Some people hate the shorts but even though I don't short, I think they're in the same game I am and deserve my respect.
highalpha1 wrote: So I wanted to pull together the short interest based out percentage of shares outstanding. Here is the short interest of various Canadian O&G companies, including CPG (all data is effective as of June 15, 2021 [the most recent publicly available data]).
ARX - 6.65%
BTE - 6.33%
CPG - 5.66%
ERF - 4.2%
VET - 3.03%
PXT - 2.84%
CVE - 2.39%
TOU - 2.25%
NVA - 2.05%
MEG - 1.54%
CNQ - 1.4%
SU - 1.32%
WCP - 1.15%
CJ - 0.81%
TVE - 0.15%
I will underscore one point related to short interest. Not everyone who is short a stock believes that the share price of the company will go down. There are a lot of investors who short stocks in an effort to manage risk. For instance, if one thinks WCP might outperform CPG and one wishes to manage risk, one may go long WCP and short CPG (or vice versa).
In any event, this data shows that CPG has a high short interest on a relative basis. There should be a nice pop in the share price once some of the current shorts begin to cover.
GLTA longs!