Ecopetrol S.A. (NYSE:EC) Stock Position Lowered by Private Advisor Group LLC

Private Advisor Group LLC trimmed its stake in Ecopetrol S.A. (NYSE:EC) by 33.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,355 shares of the oil and gas company’s stock after selling 11,299 shares during the quarter. Private Advisor Group LLC’s holdings in Ecopetrol were worth $177,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $3,796,000 after acquiring an additional 190,293 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Ecopetrol in the 4th quarter worth $790,000. Strategic Financial Concepts LLC acquired a new position in shares of Ecopetrol in the 4th quarter worth $179,000. BNP Paribas Financial Markets grew its holdings in shares of Ecopetrol by 61.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 56,783 shares of the oil and gas company’s stock worth $507,000 after acquiring an additional 21,703 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Ecopetrol in the 3rd quarter worth $1,061,000.

Ecopetrol Stock Performance

Shares of EC stock opened at $9.60 on Friday. Ecopetrol S.A. has a 1-year low of $7.21 and a 1-year high of $12.90. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 4.59 and a beta of 1.20. The stock’s fifty day simple moving average is $9.19 and its 200-day simple moving average is $8.76.

Wall Street Analyst Weigh In

EC has been the topic of a number of recent research reports. StockNews.com cut Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup upgraded Ecopetrol from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $14.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $7.50 to $9.50 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

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.