SeaCrest Wealth Management LLC Grows Stake in Ecopetrol S.A. (NYSE:EC)

SeaCrest Wealth Management LLC boosted its position in Ecopetrol S.A. (NYSE:EC) by 30.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,252 shares of the oil and gas company’s stock after purchasing an additional 13,293 shares during the period. SeaCrest Wealth Management LLC’s holdings in Ecopetrol were worth $666,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EC. Confluence Investment Management LLC purchased a new position in Ecopetrol during the first quarter worth $182,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Ecopetrol in the fourth quarter valued at $486,000. Seven Eight Capital LP purchased a new stake in shares of Ecopetrol in the fourth quarter valued at $531,000. CenterBook Partners LP grew its position in shares of Ecopetrol by 136.6% in the fourth quarter. CenterBook Partners LP now owns 334,527 shares of the oil and gas company’s stock valued at $3,988,000 after purchasing an additional 193,150 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Ecopetrol in the fourth quarter valued at $582,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on EC. Bank of America downgraded Ecopetrol from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 30th. The Goldman Sachs Group lifted their price objective on Ecopetrol from $10.30 to $11.90 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, Ecopetrol presently has an average rating of “Hold” and an average price target of $11.27.

Ecopetrol Price Performance

Shares of Ecopetrol stock opened at $11.27 on Thursday. Ecopetrol S.A. has a twelve month low of $9.92 and a twelve month high of $13.14. The stock has a market capitalization of $23.16 billion, a P/E ratio of 4.90, a PEG ratio of 1.01 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $11.85 and its 200 day moving average price is $11.76.

Ecopetrol (NYSE:EC) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Ecopetrol had a net margin of 14.35% and a return on equity of 8.82%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.19 billion. As a group, research analysts anticipate that Ecopetrol S.A. will post 2.54 earnings per share for the current year.

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.