El Paso (NYSEAMERICAN:EP) Shares Down 4.3% – Here’s Why

El Paso Corporation (NYSEAMERICAN:EP)’s share price traded down 4.3% during mid-day trading on Wednesday . The stock traded as low as $2.81 and last traded at $2.87. 69,618 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 93,360 shares. The stock had previously closed at $3.00.

El Paso Stock Down 4.3%

The firm’s fifty day moving average price is $3.07 and its 200-day moving average price is $3.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.28. The firm has a market capitalization of $101.68 million, a P/E ratio of -1.37 and a beta of 0.44.

Institutional Trading of El Paso

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in El Paso by 325.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,696 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 5,889 shares during the last quarter. Jane Street Group LLC acquired a new stake in El Paso during the second quarter valued at approximately $76,000. Deutsche Bank AG lifted its stake in El Paso by 138.3% during the fourth quarter. Deutsche Bank AG now owns 27,271 shares of the basic materials company’s stock valued at $83,000 after purchasing an additional 15,828 shares during the last quarter. Citadel Advisors LLC acquired a new stake in El Paso during the third quarter valued at approximately $93,000. Finally, Wellington Management Group LLP lifted its stake in 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 during the last quarter.

About El Paso

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.