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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the stock an “underperform” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 price objective on shares of Ecopetrol in a report on Monday, December 1st. Finally, Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ecopetrol currently has an average rating of “Reduce” and a consensus target price of $10.35.

Hedge Funds Weigh In On Ecopetrol

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in Ecopetrol by 1,083.8% in the 4th quarter. XTX Topco Ltd now owns 127,910 shares of the oil and gas company’s stock worth $1,282,000 after purchasing an additional 117,105 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of Ecopetrol by 91.4% in the fourth quarter. Voloridge Investment Management LLC now owns 236,586 shares of the oil and gas company’s stock worth $2,371,000 after buying an additional 112,953 shares during the period. Inspire Investing LLC bought a new stake in shares of Ecopetrol during the 4th quarter worth approximately $88,000. Engineers Gate Manager LP boosted its holdings in Ecopetrol by 43.9% during the 4th quarter. Engineers Gate Manager LP now owns 124,309 shares of the oil and gas company’s stock valued at $1,246,000 after acquiring an additional 37,943 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Ecopetrol in the 4th quarter valued at $229,000.

Ecopetrol Stock Performance

NYSE EC opened at $12.05 on Thursday. The business’s 50 day moving average price is $11.19 and its 200-day moving average price is $9.97. Ecopetrol has a fifty-two week low of $7.80 and a fifty-two week high of $13.27. The company has a market cap of $24.76 billion, a P/E ratio of 10.12 and a beta of 0.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.26 and a current ratio of 1.53.

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.