Ecopetrol S.A. $EC Shares Bought by Barometer Capital Management Inc.

Barometer Capital Management Inc. raised its holdings in Ecopetrol S.A. (NYSE:EC - Free Report) by 2,694.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,000 shares of the oil and gas company's stock after buying an additional 105,100 shares during the quarter. Barometer Capital Management Inc.'s holdings in Ecopetrol were worth $1,558,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EC. Smartleaf Asset Management LLC purchased a new stake in shares of Ecopetrol during the second quarter worth about $25,000. ORG Partners LLC boosted its stake in Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 1,928 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 2,685 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ecopetrol in the third quarter worth $40,000. Finally, Inspire Investing LLC acquired a new stake in shares of Ecopetrol during the fourth quarter worth $88,000.

Analyst Upgrades and Downgrades

EC has been the subject of a number of research analyst reports. Weiss Ratings upgraded Ecopetrol from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 29th. JPMorgan Chase & Co. boosted their price target on Ecopetrol from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, June 1st. Wall Street Zen lowered Ecopetrol from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Zacks Research cut Ecopetrol from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Finally, Citigroup downgraded Ecopetrol from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $18.00 in a report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ecopetrol presently has an average rating of "Reduce" and a consensus price target of $13.14.

Ecopetrol Stock Up 3.2%

Ecopetrol stock opened at $16.54 on Wednesday. The firm has a market cap of $33.99 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.67 and a beta of 0.45. Ecopetrol S.A. has a 52 week low of $8.27 and a 52 week high of $17.75. The business's 50-day moving average price is $15.13 and its 200 day moving average price is $13.75. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93.

Ecopetrol (NYSE:EC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. As a group, sell-side analysts anticipate that Ecopetrol S.A. will post 2.05 earnings per share for the current year.

Ecopetrol Profile

Ecopetrol SA NYSE: EC is Colombia's state-controlled integrated oil and gas company and the country's largest oil producer. The company's operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.

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