Ecopetrol S.A. (NYSE:EC) Short Interest Update

Ecopetrol S.A. (NYSE:EC - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 14,230,000 shares, an increase of 7.0% from the October 15th total of 13,300,000 shares. Based on an average trading volume of 2,180,000 shares, the short-interest ratio is presently 6.5 days. Currently, 0.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

EC has been the topic of several analyst reports. StockNews.com raised Ecopetrol from a "hold" rating to a "buy" rating in a research report on Monday. The Goldman Sachs Group lowered their price target on Ecopetrol from $11.00 to $9.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ecopetrol from $8.50 to $7.50 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ecopetrol currently has an average rating of "Hold" and an average target price of $8.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GQG Partners LLC grew its position in Ecopetrol by 0.9% in the first quarter. GQG Partners LLC now owns 12,291,956 shares of the oil and gas company's stock worth $145,537,000 after acquiring an additional 105,172 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Ecopetrol by 1.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company's stock worth $7,924,000 after purchasing an additional 13,707 shares during the last quarter. Earnest Partners LLC raised its holdings in Ecopetrol by 1.2% in the 1st quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company's stock valued at $6,048,000 after buying an additional 5,844 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ecopetrol by 81.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company's stock valued at $3,796,000 after buying an additional 190,293 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Ecopetrol by 6.0% during the second quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company's stock worth $3,045,000 after buying an additional 15,467 shares during the period.

Ecopetrol Price Performance

EC traded down $0.11 on Tuesday, reaching $8.06. 2,494,659 shares of the company's stock were exchanged, compared to its average volume of 2,121,464. The stock has a market cap of $16.56 billion, a PE ratio of 3.55 and a beta of 1.21. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $13.14. The stock's fifty day moving average price is $8.42 and its 200-day moving average price is $10.16.

About Ecopetrol

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.