Atria Investments Inc Sells 2,868 Shares of Ecopetrol S.A. (NYSE:EC)

Atria Investments Inc lessened its holdings in shares of Ecopetrol S.A. (NYSE:EC) by 13.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,837 shares of the oil and gas company’s stock after selling 2,868 shares during the period. Atria Investments Inc’s holdings in Ecopetrol were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EC. Manning & Napier Advisors LLC bought a new stake in shares of Ecopetrol during the 2nd quarter valued at $1,890,000. Barings LLC bought a new position in Ecopetrol in the 2nd quarter worth about $1,830,000. Virtu Financial LLC bought a new position in Ecopetrol in the 2nd quarter worth about $1,476,000. Seven Eight Capital LP bought a new position in Ecopetrol in the 2nd quarter worth about $1,192,000. Finally, Ping Capital Management Inc. bought a new position in Ecopetrol in the 2nd quarter worth about $425,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EC shares. StockNews.com upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group dropped their price target on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.50.

Ecopetrol Price Performance

EC opened at $8.33 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. The stock has a market capitalization of $17.13 billion, a P/E ratio of 3.67 and a beta of 1.21. The company’s 50-day simple moving average is $8.35 and its two-hundred day simple moving average is $10.06. Ecopetrol S.A. has a 52-week low of $7.21 and a 52-week high of $13.14.

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.