Capital Fund Management S.A. Decreases Stock Position in Ecopetrol S.A. $EC

Key Points

• Capital Fund Management S.A. significantly reduced its shareholding in Ecopetrol S.A. by 86.3%, leaving it with only 26,316 shares valued at $275,000.
• Other institutional investors have also modified their positions; notably, GAMMA Investing LLC increased its stake by 1,639.4%, acquiring 272,620 shares valued at approximately $26.1 million.
• Ecopetrol's stock currently trades at $9.23, with a 12-month low of $7.21 and a high of $11.05, while Zacks Research upgraded the stock from a "strong sell" to a "hold" rating.

Capital Fund Management S.A. decreased its position in Ecopetrol S.A. (NYSE:EC - Free Report) by 86.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,316 shares of the oil and gas company's stock after selling 166,018 shares during the quarter. Capital Fund Management S.A.'s holdings in Ecopetrol were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Ecopetrol by 10.7% in the 4th quarter. Wells Fargo & Company MN now owns 17,575 shares of the oil and gas company's stock valued at $139,000 after purchasing an additional 1,703 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in Ecopetrol by 1.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 158,452 shares of the oil and gas company's stock valued at $1,654,000 after purchasing an additional 2,231 shares during the last quarter. Rathbones Group PLC raised its stake in Ecopetrol by 16.7% in the 1st quarter. Rathbones Group PLC now owns 17,975 shares of the oil and gas company's stock valued at $188,000 after purchasing an additional 2,575 shares during the last quarter. Blume Capital Management Inc. acquired a new position in Ecopetrol in the 1st quarter valued at about $28,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Ecopetrol in the 1st quarter valued at about $46,000.

Ecopetrol Trading Up 1.1%

Shares of NYSE EC traded up $0.11 on Monday, reaching $9.42. 1,472,463 shares of the company traded hands, compared to its average volume of 1,955,572. Ecopetrol S.A. has a fifty-two week low of $7.21 and a fifty-two week high of $11.05. The company has a 50 day moving average of $8.89 and a 200 day moving average of $9.13. The stock has a market capitalization of $19.36 billion, a PE ratio of 6.19 and a beta of 0.88.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Ecopetrol from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Ecopetrol presently has a consensus rating of "Hold" and a consensus price target of $11.00.

Ecopetrol 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.