Militia Capital Partners LP Has $5 Million Position in 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 cut its stake in Ecopetrol S.A. (NYSE:EC - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 479,200 shares of the oil and gas company's stock after selling 121,500 shares during the period. Ecopetrol makes up 4.0% of Militia Capital Partners LP's investment portfolio, making the stock its 6th largest position. Militia Capital Partners LP's holdings in Ecopetrol were worth $5,003,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Blume Capital Management Inc. acquired a new stake in shares of Ecopetrol in the first quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ecopetrol in the first quarter valued at approximately $46,000. Public Employees Retirement System of Ohio purchased a new position in Ecopetrol in the fourth quarter valued at approximately $97,000. Avantax Advisory Services Inc. purchased a new position in Ecopetrol in the first quarter valued at approximately $106,000. Finally, Sowell Financial Services LLC purchased a new position in Ecopetrol in the first quarter valued at approximately $116,000.

Ecopetrol Stock Up 1.0%

Shares of EC traded up $0.09 during mid-day trading on Monday, reaching $9.23. 1,233,930 shares of the stock traded hands, compared to its average volume of 2,458,877. The stock has a fifty day simple moving average of $8.90 and a 200 day simple moving average of $9.05. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 7.05 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.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.