Arrowstreet Capital Limited Partnership Purchases Shares of 436,454 Ecopetrol S.A. $EC

Key Points

• Arrowstreet Capital initiated a position in Ecopetrol by purchasing 436,454 shares valued at approximately $6.54 million. Several other institutional investors also established or increased their stakes.
• Analysts remain cautious: seven rate Ecopetrol “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $13.14, below the reported $16.75 share price.
• Ecopetrol reported quarterly earnings of $0.50 per share, with an 8.84% net margin and 12.38% return on equity. The stock has traded between $8.27 and $17.75 over the past year and has a market capitalization of about $34.44 billion.

Arrowstreet Capital Limited Partnership purchased a new position in Ecopetrol S.A. (NYSE:EC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 436,454 shares of the oil and gas company's stock, valued at approximately $6,542,000.

Several other large investors have also added to or reduced their stakes in EC. Smartleaf Asset Management LLC bought a new stake in Ecopetrol during the 2nd quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its holdings in shares of Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 2,685 shares during the period. Advisory Services Network LLC bought a new position in shares of Ecopetrol in the 3rd quarter worth approximately $40,000. Parallel Advisors LLC raised its position in shares of Ecopetrol by 34.8% in the 1st quarter. Parallel Advisors LLC now owns 7,890 shares of the oil and gas company's stock worth $118,000 after acquiring an additional 2,038 shares in the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Ecopetrol in the 4th quarter valued at approximately $88,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup cut Ecopetrol from a "buy" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $18.00 in a research note on Wednesday, June 3rd. Weiss Ratings raised Ecopetrol from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Ecopetrol from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, June 1st. Zacks Research downgraded shares of Ecopetrol from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, UBS Group increased their price target on shares of Ecopetrol from $13.50 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $13.14.

Ecopetrol Price Performance

Shares of EC opened at $16.75 on Monday. Ecopetrol S.A. has a twelve month low of $8.27 and a twelve month high of $17.75. The company has a market capitalization of $34.44 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.44. The firm has a 50 day moving average of $15.58 and a 200 day moving average of $14.08. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93.

Ecopetrol (NYSE:EC - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. As a group, equities research analysts anticipate that Ecopetrol S.A. will post 2.05 earnings per share for the current fiscal year.

Ecopetrol Company 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.

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