Militia Capital Partners LP Sells 121,500 Shares of Ecopetrol S.A. $EC

Key Points

• Militia Capital Partners LP has reduced its stake in Ecopetrol S.A. by 20.2%, now holding 479,200 shares which make up about 4.0% of its investment portfolio.
• Analysts have upgraded Ecopetrol's rating from a "strong sell" to a "hold," with a consensus target price of $11.00.
• Ecopetrol's stock is down 2.0%, with shares trading around $9.25 and a market capitalization of $19.02 billion.

Militia Capital Partners LP decreased its holdings in shares of Ecopetrol S.A. (NYSE:EC - Free Report) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 479,200 shares of the oil and gas company's stock after selling 121,500 shares during the quarter. Ecopetrol comprises about 4.0% of Militia Capital Partners LP's portfolio, making the stock its 6th biggest holding. Militia Capital Partners LP's holdings in Ecopetrol were worth $5,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Manning & Napier Advisors LLC increased its stake in shares of 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 worth $1,654,000 after acquiring an additional 2,231 shares during the last quarter. Rathbones Group PLC grew its stake in shares of 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 buying an additional 2,575 shares during the period. Blume Capital Management Inc. purchased a new stake in shares of Ecopetrol in the 1st quarter valued at approximately $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ecopetrol in the 1st quarter valued at approximately $46,000. Finally, Vident Advisory LLC grew its stake in shares of Ecopetrol by 57.2% in the 4th quarter. Vident Advisory LLC now owns 21,641 shares of the oil and gas company's stock valued at $171,000 after buying an additional 7,875 shares during the period.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of 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 assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.00.

Ecopetrol Stock Down 0.2%

NYSE EC traded down $0.02 during trading hours on Wednesday, hitting $9.37. 869,033 shares of the stock were exchanged, compared to its average volume of 2,443,937. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 7.15 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 stock has a 50-day moving average of $8.91 and a 200 day moving average of $9.05.

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.