Short Interest in Ecopetrol S.A. (NYSE:EC) Increases By 9.1%

Ecopetrol S.A. (NYSE:EC) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 15,720,000 shares, a growth of 9.1% from the January 15th total of 14,410,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 2,600,000 shares, the days-to-cover ratio is currently 6.0 days.

Ecopetrol Price Performance

EC stock opened at $10.26 on Tuesday. The firm has a 50 day moving average of $8.57 and a 200-day moving average of $8.75. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $21.08 billion, a P/E ratio of 4.91 and a beta of 1.20. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $12.90.

Institutional Investors Weigh In On Ecopetrol

Large investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its holdings in shares of Ecopetrol by 317.5% in the 4th quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 3,638 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in Ecopetrol in the fourth quarter valued at approximately $44,000. Blue Trust Inc. lifted its position in Ecopetrol by 135.5% during the third quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 3,655 shares during the last quarter. SG Americas Securities LLC purchased a new position in Ecopetrol in the 4th quarter worth approximately $86,000. Finally, Signaturefd LLC increased its holdings in shares of Ecopetrol by 13.1% in the 4th quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock worth $87,000 after buying an additional 1,271 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on EC shares. StockNews.com lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $7.50 to $9.50 in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Ecopetrol presently has a consensus rating of “Hold” and an average target price of $9.17.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.