Knowing nothing about COP, and the stock fundamentals looking great - why the large short position? All responses deeply appreciated.
it is not really very big only about 3% of outstanding stock.
Some reports of high divi payers being shorted as a class due to "falling out of favor".
Personally I think those reports are an attempt at a self fullfilling prophecy.
Are you referring the article stating COP is the "157th most shorted stock?" 157th is way down the list. Anytime the market has moved up like it has in the first quarter the number of shorters increase. Am I concerned about it? Not the least.
Sentiment: Strong Buy
That being said would you enter COP at todays price?
more that will have to buy back when all the good news about GOM wells keep coming in and earnings keep going up.