120,073 Shares in Ecopetrol S.A. (NYSE:EC) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. purchased a new stake in shares of Ecopetrol S.A. (NYSE:EC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 120,073 shares of the oil and gas company's stock, valued at approximately $1,254,000.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Ecopetrol by 63.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,412 shares of the oil and gas company's stock worth $5,516,000 after purchasing an additional 271,296 shares during the period. Signaturefd LLC raised its holdings in Ecopetrol by 13.1% in the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,271 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Ecopetrol in the fourth quarter worth $44,000. Stokes Family Office LLC raised its holdings in Ecopetrol by 3.1% in the fourth quarter. Stokes Family Office LLC now owns 66,664 shares of the oil and gas company's stock worth $528,000 after purchasing an additional 2,000 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Ecopetrol by 48,309.7% in the fourth quarter. Quantbot Technologies LP now owns 144,745 shares of the oil and gas company's stock worth $1,146,000 after purchasing an additional 144,446 shares during the period.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Ecopetrol from a "buy" rating to a "hold" rating in a report on Monday, March 17th.

Ecopetrol Stock Performance

Ecopetrol stock traded down $0.15 during mid-day trading on Wednesday, reaching $8.96. The company's stock had a trading volume of 2,048,456 shares, compared to its average volume of 2,433,986. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 5.89 and a beta of 0.84. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $11.29. The business's 50 day simple moving average is $8.81 and its 200 day simple moving average is $9.09.

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.