Atria Investments Inc Decreases Holdings in Ecopetrol S.A. (NYSE:EC)

Atria Investments Inc lessened its stake in shares of Ecopetrol S.A. (NYSE:EC) by 13.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,837 shares of the oil and gas company’s stock after selling 2,868 shares during the period. Atria Investments Inc’s holdings in Ecopetrol were worth $168,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new position in shares of Ecopetrol in the second quarter worth about $27,000. Blue Trust Inc. increased its stake in shares of Ecopetrol by 258.6% in the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,945 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ecopetrol by 58.2% in the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 2,355 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Ecopetrol in the first quarter worth about $141,000. Finally, Straight Path Wealth Management increased its stake in shares of Ecopetrol by 7.4% in the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 1,000 shares in the last quarter.

Ecopetrol Trading Up 1.7 %

Shares of EC opened at $8.33 on Monday. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 3.67 and a beta of 1.21. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. Ecopetrol S.A. has a fifty-two week low of $7.21 and a fifty-two week high of $13.14. The firm has a 50 day moving average price of $8.35 and a 200-day moving average price of $10.06.

Analysts Set New Price Targets

Several research firms have recently weighed in on EC. StockNews.com upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group cut their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

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.