Ecopetrol SA (NYSE:EC) Short Interest Update

Ecopetrol SA (NYSE:EC) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 15,205,235 shares, an increase of 22.6% from the October 13th total of 12,404,535 shares. Based on an average daily volume of 1,408,967 shares, the days-to-cover ratio is currently 10.8 days.

A number of institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Ecopetrol by 7.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,437,088 shares of the oil and gas company’s stock worth $80,068,000 after buying an additional 608,262 shares in the last quarter. Renaissance Technologies LLC grew its stake in Ecopetrol by 16.5% during the second quarter. Renaissance Technologies LLC now owns 6,262,700 shares of the oil and gas company’s stock worth $56,928,000 after buying an additional 887,100 shares in the last quarter. Vanguard Group Inc. grew its stake in Ecopetrol by 5.6% during the second quarter. Vanguard Group Inc. now owns 3,319,861 shares of the oil and gas company’s stock worth $30,178,000 after buying an additional 175,934 shares in the last quarter. APG Asset Management N.V. grew its stake in Ecopetrol by 118.5% during the third quarter. APG Asset Management N.V. now owns 1,232,763 shares of the oil and gas company’s stock worth $11,699,000 after buying an additional 668,500 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Ecopetrol by 6.0% during the third quarter. Legal & General Group Plc now owns 1,102,311 shares of the oil and gas company’s stock worth $10,466,000 after buying an additional 62,400 shares in the last quarter. Hedge funds and other institutional investors own 2.06% of the company’s stock.

Ecopetrol (EC) traded down $0.04 during mid-day trading on Tuesday, hitting $11.86. 838,172 shares of the company traded hands, compared to its average volume of 1,033,438. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.37 and a quick ratio of 1.07. Ecopetrol has a fifty-two week low of $8.44 and a fifty-two week high of $12.30. The firm has a market capitalization of $24,420.00, a P/E ratio of 26.77, a PEG ratio of 0.36 and a beta of 1.14.

A number of research analysts have weighed in on EC shares. J P Morgan Chase & Co raised shares of Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. ValuEngine lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised shares of Ecopetrol from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.20.

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Ecopetrol Company Profile

Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.

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