BNP Paribas Financial Markets Buys 21,703 Shares of Ecopetrol S.A. (NYSE:EC)

BNP Paribas Financial Markets increased its position in Ecopetrol S.A. (NYSE:EC) by 61.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,783 shares of the oil and gas company’s stock after purchasing an additional 21,703 shares during the period. BNP Paribas Financial Markets’ holdings in Ecopetrol were worth $507,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Ecopetrol by 81.0% in the 3rd 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 acquiring an additional 190,293 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Ecopetrol during the third quarter valued at $188,000. Crossmark Global Holdings Inc. boosted its position in shares of Ecopetrol by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock valued at $7,924,000 after buying an additional 13,707 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Ecopetrol in the 3rd quarter worth about $228,000. Finally, Glenorchy Capital Ltd raised its position in Ecopetrol by 16.5% in the 3rd quarter. Glenorchy Capital Ltd now owns 53,583 shares of the oil and gas company’s stock worth $479,000 after buying an additional 7,584 shares during the last quarter.

Ecopetrol Stock Performance

Shares of NYSE EC opened at $8.22 on Friday. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $13.14. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 3.62 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $8.06 and a 200 day moving average of $9.68.

Analyst Ratings Changes

A number of analysts have recently commented on EC shares. The Goldman Sachs Group reduced their price target on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $8.50.

Ecopetrol Company Profile

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.