BW Gestao de Investimentos Ltda. Makes New $1.19 Million Investment in Ecopetrol S.A. $EC

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. purchased a new stake in Ecopetrol S.A. (NYSE:EC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 114,000 shares of the oil and gas company's stock, valued at approximately $1,190,000.

A number of other hedge funds also recently made changes to their positions in EC. Blume Capital Management Inc. acquired a new position in shares of Ecopetrol in the 1st quarter valued at $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ecopetrol during the 1st quarter valued at $46,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ecopetrol during the 4th quarter valued at $97,000. FORA Capital LLC acquired a new position in shares of Ecopetrol during the 4th quarter valued at $105,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Ecopetrol during the 1st quarter valued at $106,000.

Analyst Ratings Changes

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

Ecopetrol Stock Up 0.4%

Shares of EC traded up $0.04 during midday trading on Monday, hitting $9.12. The company had a trading volume of 704,525 shares, compared to its average volume of 2,482,176. The company's 50 day moving average price is $8.88 and its 200 day moving average price is $9.08. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 6.95 and a beta of 0.88. Ecopetrol S.A. has a 52 week low of $7.21 and a 52 week high of $11.05.

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.