El Paso Corporation (NYSEAMERICAN:EP – Get Free Report) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 660,054 shares, a decline of 41.5% from the June 15th total of 1,128,603 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 288,746 shares, the days-to-cover ratio is presently 2.3 days.
Hedge Funds Weigh In On El Paso
A number of institutional investors have recently added to or reduced their stakes in EP. Tower Research Capital LLC TRC boosted its holdings in shares of El Paso by 325.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,696 shares of the basic materials company’s stock valued at $41,000 after buying an additional 5,889 shares in the last quarter. Jane Street Group LLC bought a new stake in El Paso during the second quarter worth about $76,000. Deutsche Bank AG grew its holdings in El Paso by 138.3% in the fourth quarter. Deutsche Bank AG now owns 27,271 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 15,828 shares during the period. Citadel Advisors LLC purchased a new stake in El Paso in the third quarter worth about $93,000. Finally, Wellington Management Group LLP increased its stake in shares of El Paso by 69.7% during the fourth quarter. Wellington Management Group LLP now owns 50,707 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 20,827 shares in the last quarter.
El Paso Trading Down 2.5%
Shares of NYSEAMERICAN EP traded down $0.07 during midday trading on Thursday, hitting $2.48. 61,711 shares of the company traded hands, compared to its average volume of 88,484. El Paso has a 12-month low of $2.41 and a 12-month high of $5.60. The firm has a market cap of $98.85 million, a P/E ratio of -1.16 and a beta of 0.29. The stock has a 50-day moving average price of $2.71 and a 200 day moving average price of $2.91. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.54 and a current ratio of 0.59.
El Paso Company Profile
Empire Petroleum Corporation engages in the exploration and development of oil and gas interests in Louisiana, New Mexico, North Dakota, Montana, and Texas. The company was formerly known as Americomm Resources Corporation and changed its name to Empire Petroleum Corporation in August 2001. Empire Petroleum Corporation was incorporated in 1983 and is headquartered in Tulsa, Oklahoma.
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