Charles Schwab Investment Management Inc. Has $10.62 Million Stake in Ecopetrol S.A. $EC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ecopetrol S.A. by 46.1%, acquiring 321,132 shares during the first quarter, bringing its total holdings to over 1 million shares, valued at approximately $10.6 million.
• Multiple institutional investors, including Wells Fargo and Manning & Napier Advisors, have also increased their holdings in Ecopetrol, reflecting growing interest in the company.
• Analyst ratings for Ecopetrol changed recently, with Zacks Research upgrading the stock from a "strong sell" to a "hold," suggesting a shift in market perception.

Charles Schwab Investment Management Inc. boosted its stake in Ecopetrol S.A. (NYSE:EC - Free Report) by 46.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017,544 shares of the oil and gas company's stock after buying an additional 321,132 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Ecopetrol were worth $10,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of EC. Wells Fargo & Company MN boosted its stake in Ecopetrol by 10.7% in the fourth quarter. Wells Fargo & Company MN now owns 17,575 shares of the oil and gas company's stock worth $139,000 after purchasing an additional 1,703 shares in the last quarter. Mariner LLC lifted its stake in shares of Ecopetrol by 126.3% during the fourth quarter. Mariner LLC now owns 29,144 shares of the oil and gas company's stock valued at $231,000 after acquiring an additional 16,263 shares during the period. Marshall Wace LLP increased its holdings in Ecopetrol by 172.3% in the fourth quarter. Marshall Wace LLP now owns 370,555 shares of the oil and gas company's stock valued at $2,935,000 after purchasing an additional 234,459 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Ecopetrol in the fourth quarter valued at about $200,000. Finally, Virtus ETF Advisers LLC increased its holdings in Ecopetrol by 43.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 19,371 shares of the oil and gas company's stock valued at $153,000 after purchasing an additional 5,887 shares during the last quarter.

Ecopetrol Stock Up 0.9%

Shares of NYSE:EC traded up $0.09 during mid-day trading on Friday, reaching $9.40. 962,308 shares of the stock were exchanged, compared to its average volume of 2,509,318. The company has a market cap of $19.31 billion, a P/E ratio of 6.18 and a beta of 0.83. Ecopetrol S.A. has a one year low of $7.21 and a one year high of $11.05. The stock's 50 day simple moving average is $8.90 and its 200-day simple moving average is $9.15.

Analyst Upgrades and Downgrades

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

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.