Ecopetrol S.A. (NYSE:EC) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 15,205,235 shares, a growth 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.
Ecopetrol (EC) opened at $11.70 on Wednesday. Ecopetrol has a fifty-two week low of $7.84 and a fifty-two week high of $12.30. The firm has a market capitalization of $24,752.26, a price-to-earnings ratio of 27.36, a P/E/G ratio of 0.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.37 and a quick ratio of 1.07.
Several research firms have recently issued reports on EC. cut Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Ecopetrol from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. ValuEngine upgraded Ecopetrol from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.20.
A number of large investors have recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI raised its position in Ecopetrol by 6.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 16,227 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 928 shares during the period. Virtu KCG Holdings LLC raised its position in Ecopetrol by 19.8% in the second quarter. Virtu KCG Holdings LLC now owns 16,579 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 2,743 shares during the period. Alliancebernstein L.P. raised its position in Ecopetrol by 25.1% in the first quarter. Alliancebernstein L.P. now owns 17,656 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 3,537 shares during the period. Capstone Asset Management Co. raised its position in Ecopetrol by 9.9% in the second quarter. Capstone Asset Management Co. now owns 42,078 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 3,800 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Ecopetrol by 48.4% in the first quarter. Ameriprise Financial Inc. now owns 16,332 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 5,330 shares during the period. 2.15% of the stock is currently owned by institutional investors.
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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