Strategic Financial Concepts LLC Invests $179,000 in Ecopetrol S.A. (NYSE:EC)

Strategic Financial Concepts LLC acquired a new stake in shares of Ecopetrol S.A. (NYSE:EC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,642 shares of the oil and gas company’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EC. Blue Trust Inc. boosted its holdings in shares of Ecopetrol by 135.5% in the 3rd quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 3,655 shares in the last quarter. Glenorchy Capital Ltd boosted its stake in Ecopetrol by 16.5% in the third quarter. Glenorchy Capital Ltd now owns 53,583 shares of the oil and gas company’s stock valued at $479,000 after acquiring an additional 7,584 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Ecopetrol in the third quarter valued at approximately $228,000. Crossmark Global Holdings Inc. grew its holdings in Ecopetrol by 1.6% in the third quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock worth $7,924,000 after purchasing an additional 13,707 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Ecopetrol during the third quarter worth $188,000.

Analysts Set New Price Targets

EC has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $8.50.

Ecopetrol Stock Performance

Shares of EC stock opened at $9.64 on Thursday. The business has a fifty day moving average of $8.44 and a 200 day moving average of $8.76. Ecopetrol S.A. has a 1 year low of $7.21 and a 1 year high of $12.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 1.38. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 4.61 and a beta of 1.20.

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.