Kingstone Capital Partners Texas LLC Makes New $2.53 Million Investment in Ecopetrol S.A. $EC

Key Points

• Kingstone Capital Partners Texas LLC acquired 285,360 shares of Ecopetrol S.A. valued at approximately $2.5 million during the second quarter.
• Ecopetrol's stock is currently trading at $8.84, down 1.9%, with a market cap of $18.17 billion and a twelve-month high of $11.05.
• Analysts have upgraded Ecopetrol's rating from "strong sell" to "hold," with a consensus target price of $11.00.

Kingstone Capital Partners Texas LLC purchased a new position in Ecopetrol S.A. (NYSE:EC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 285,360 shares of the oil and gas company's stock, valued at approximately $2,525,000.

A number of other hedge funds have also recently modified their holdings of the business. Manning & Napier Advisors LLC increased its position in Ecopetrol by 1.4% during 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 buying an additional 2,231 shares in the last quarter. Rathbones Group PLC raised its position in shares of Ecopetrol by 16.7% during the 1st quarter. Rathbones Group PLC now owns 17,975 shares of the oil and gas company's stock worth $188,000 after acquiring an additional 2,575 shares in the last quarter. Blume Capital Management Inc. purchased a new position in shares of Ecopetrol during the first quarter worth about $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ecopetrol during the 1st quarter valued at approximately $46,000. Finally, Vident Advisory LLC boosted its stake in shares of Ecopetrol by 57.2% during the 4th quarter. Vident Advisory LLC now owns 21,641 shares of the oil and gas company's stock worth $171,000 after purchasing an additional 7,875 shares during the last quarter.

Wall Street Analyst Weigh In

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

Ecopetrol Trading Up 1.3%

NYSE:EC traded up $0.12 during mid-day trading on Monday, hitting $9.00. 1,723,521 shares of the company's stock traded hands, compared to its average volume of 1,567,569. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 6.87 and a beta of 0.88. The firm has a 50 day moving average of $8.91 and a two-hundred day moving average of $9.04. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $11.05.

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.