Wealth High Governance Asset Management Ltda. Takes Position in Ecopetrol S.A. $EC

Wealth High Governance Asset Management Ltda. bought a new stake in Ecopetrol S.A. (NYSE:EC) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 137,208 shares of the oil and gas company’s stock, valued at approximately $2,057,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EC. Liontrust Investment Partners LLP purchased a new stake in shares of Ecopetrol in the first quarter valued at about $839,000. Bank of America Corp DE lifted its stake in shares of Ecopetrol by 41.1% in the first quarter. Bank of America Corp DE now owns 64,897 shares of the oil and gas company’s stock valued at $973,000 after purchasing an additional 18,895 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Ecopetrol during the 1st quarter worth $3,583,000. Public Employees Retirement System of Ohio acquired a new stake in Ecopetrol during the 1st quarter valued at $1,948,000. Finally, Compound Planning Inc. acquired a new stake in Ecopetrol during the first quarter worth approximately $665,000.

Ecopetrol Trading Down 0.1%

Shares of NYSE:EC opened at $16.75 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $15.58 and its 200 day moving average price is $14.08. The company has a market cap of $34.44 billion, a PE ratio of 13.09, a P/E/G ratio of 0.70 and a beta of 0.44. Ecopetrol S.A. has a fifty-two week low of $8.27 and a fifty-two week high of $17.75.

Ecopetrol (NYSE:EC) last posted its earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 EPS for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. Sell-side analysts anticipate that Ecopetrol S.A. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

EC has been the subject of several research analyst reports. Weiss Ratings upgraded Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group increased their price target on Ecopetrol from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Ecopetrol from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. Finally, Zacks Research cut Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ecopetrol currently has a consensus rating of “Reduce” and a consensus target price of $13.14.

Ecopetrol Profile

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.