114,000 Shares in Ecopetrol S.A. $EC Purchased by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. has invested approximately $1.19 million in Ecopetrol S.A., acquiring 114,000 shares of the company in the first quarter.
• Other institutional investors, including Advisors Asset Management Inc. and Graham Capital Management L.P., have also increased their stakes in Ecopetrol during the same period.
• Ecopetrol's stock currently has an average rating of "Hold" from analysts, with a price target set at $11.00.

BW Gestao de Investimentos Ltda. bought a new position in shares of Ecopetrol S.A. (NYSE:EC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 114,000 shares of the oil and gas company's stock, valued at approximately $1,190,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EC. Advisors Asset Management Inc. raised its holdings in shares of Ecopetrol by 18.0% during the first quarter. Advisors Asset Management Inc. now owns 90,360 shares of the oil and gas company's stock worth $943,000 after acquiring an additional 13,789 shares during the period. Graham Capital Management L.P. acquired a new position in Ecopetrol in the 1st quarter worth $2,133,000. Vident Advisory LLC increased its holdings in Ecopetrol by 133.3% during the 1st quarter. Vident Advisory LLC now owns 50,491 shares of the oil and gas company's stock worth $527,000 after purchasing an additional 28,850 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Ecopetrol by 576.6% in the 1st quarter. Brooklyn Investment Group now owns 15,135 shares of the oil and gas company's stock valued at $158,000 after purchasing an additional 12,898 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Ecopetrol by 7.3% in the first quarter. American Century Companies Inc. now owns 366,748 shares of the oil and gas company's stock valued at $3,829,000 after purchasing an additional 25,061 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ecopetrol from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.00.

Ecopetrol Stock Up 0.3%

Shares of NYSE:EC traded up $0.03 during midday trading on Friday, hitting $9.07. The stock had a trading volume of 1,459,353 shares, compared to its average volume of 1,845,181. The company has a market cap of $18.64 billion, a P/E ratio of 6.92 and a beta of 0.88. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $11.05. The business's 50-day simple moving average is $8.88 and its 200-day simple moving average is $9.11.

Ecopetrol Company Profile

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.