El Paso Corporation (NYSEAMERICAN:EP) Sees Large Drop in Short Interest

El Paso Corporation (NYSEAMERICAN:EP) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 660,054 shares, a decrease of 41.5% from the June 15th total of 1,128,603 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily volume of 288,746 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of El Paso by 69.7% in the 4th quarter. Wellington Management Group LLP now owns 50,707 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 20,827 shares during the last quarter. Deutsche Bank AG lifted its holdings in El Paso by 138.3% during the 4th 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. Verdence Capital Advisors LLC lifted its holdings in El Paso by 9.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 53,830 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 4,650 shares during the last quarter. Citadel Advisors LLC acquired a new position in El Paso in the third quarter valued at about $93,000. Finally, Tower Research Capital LLC TRC boosted its position in El Paso by 325.9% in 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 buying an additional 5,889 shares in the last quarter.

El Paso Stock Performance

EP traded up $0.07 during trading on Friday, reaching $2.50. 24,043 shares of the company’s stock were exchanged, compared to its average volume of 88,226. The company has a market capitalization of $99.45 million, a P/E ratio of -1.16 and a beta of 0.29. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 3.77. The business has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.91. El Paso has a fifty-two week low of $2.41 and a fifty-two week high of $5.60.

El Paso (NYSEAMERICAN:EP) last posted its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter. El Paso had a negative return on equity of 77.50% and a negative net margin of 245.83%.The business had revenue of $5.10 million during the quarter.

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.