Short Interest in Ecopetrol S.A. (NYSE:EC) Decreases By 12.8%

Ecopetrol S.A. (NYSE:EC) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 15,228,202 shares, a decline of 12.8% from the January 15th total of 17,454,287 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average trading volume of 3,782,956 shares, the days-to-cover ratio is currently 4.0 days. Based on an average trading volume of 3,782,956 shares, the days-to-cover ratio is currently 4.0 days. Currently, 0.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Ecopetrol

Institutional investors and hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP grew its position in shares of Ecopetrol by 12.3% during the second quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock worth $31,416,000 after buying an additional 387,700 shares in the last quarter. Fundamenta Capital S.A. bought a new position in Ecopetrol during the 4th quarter valued at $20,135,000. Charles Schwab Investment Management Inc. grew its holdings in Ecopetrol by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock worth $14,107,000 after acquiring an additional 41,075 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ecopetrol by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock worth $10,534,000 after acquiring an additional 102,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Ecopetrol by 7.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock worth $9,375,000 after purchasing an additional 64,614 shares during the last quarter.

Ecopetrol Trading Up 0.2%

NYSE:EC opened at $11.91 on Tuesday. The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 10.00 and a beta of 0.63. Ecopetrol has a one year low of $7.80 and a one year high of $13.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.26 and a current ratio of 1.53. The business’s 50-day simple moving average is $11.10 and its 200 day simple moving average is $9.93.

Analysts Set New Price Targets

EC has been the subject of several recent research reports. Weiss Ratings downgraded Ecopetrol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $8.70 target price on shares of Ecopetrol in a research report on Monday, December 1st. Zacks Research upgraded Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Bradesco Corretora set a $12.00 price target on Ecopetrol and gave the stock an “underperform” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $11.57.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.