Industry News

Fisher Asset Management LLC Cuts Holdings in Ecopetrol SA (NYSE:EC)

By August 26, 2019 No Comments

Fisher Asset Management LLC lessened its holdings in shares of Ecopetrol SA (NYSE:EC) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,345,309 shares of the oil and gas company’s stock after selling 56,755 shares during the period. Fisher Asset Management LLC owned 0.11% of Ecopetrol worth $42,896,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. lifted its position in Ecopetrol by 2.5% in the 1st quarter. Wetherby Asset Management Inc. now owns 22,906 shares of the oil and gas company’s stock valued at $491,000 after acquiring an additional 562 shares in the last quarter. Lindbrook Capital LLC lifted its position in Ecopetrol by 116.6% during the 1st quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock worth $28,000 after buying an additional 708 shares in the last quarter. Bank of Montreal Can lifted its position in Ecopetrol by 4.2% during the 1st quarter. Bank of Montreal Can now owns 63,981 shares of the oil and gas company’s stock worth $1,372,000 after buying an additional 2,572 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in Ecopetrol by 34.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 13,054 shares of the oil and gas company’s stock worth $278,000 after buying an additional 3,327 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Ecopetrol by 9.3% during the 4th quarter. Macquarie Group Ltd. now owns 47,064 shares of the oil and gas company’s stock worth $747,000 after buying an additional 4,007 shares in the last quarter. 2.65% of the stock is owned by hedge funds and other institutional investors.

Separately, Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.33.

Shares of NYSE:EC opened at $15.29 on Monday. The company’s 50 day moving average price is $17.69 and its two-hundred day moving average price is $18.91. Ecopetrol SA has a 12-month low of $15.25 and a 12-month high of $27.96. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.59. The firm has a market cap of $32.61 billion, a PE ratio of 8.48, a PEG ratio of 0.46 and a beta of 1.53.

Ecopetrol Profile

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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