Public Employees Retirement System of Ohio bought a new stake in Ecopetrol S.A. (NYSE:EC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 129,973 shares of the oil and gas company's stock, valued at approximately $1,948,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fundamenta Capital S.A. bought a new position in Ecopetrol during the fourth quarter worth about $20,135,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Ecopetrol by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company's stock worth $14,107,000 after purchasing an additional 41,075 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ecopetrol by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company's stock worth $10,534,000 after purchasing an additional 102,505 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ecopetrol by 7.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company's stock worth $9,375,000 after purchasing an additional 64,614 shares in the last quarter. Finally, Militia Capital Partners LP lifted its holdings in Ecopetrol by 16.1% during the 2nd quarter. Militia Capital Partners LP now owns 556,200 shares of the oil and gas company's stock valued at $4,922,000 after purchasing an additional 77,000 shares during the last quarter.
Ecopetrol Price Performance
Ecopetrol stock opened at $16.75 on Friday. The business's 50-day simple moving average is $15.58 and its 200 day simple moving average is $14.06. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93. The stock has a market cap of $34.44 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.70 and a beta of 0.45. Ecopetrol S.A. has a 12-month low of $8.27 and a 12-month high of $17.75.
Ecopetrol (NYSE:EC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. As a group, research analysts anticipate that Ecopetrol S.A. will post 2.05 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms have commented on EC. JPMorgan Chase & Co. boosted their price target on shares of Ecopetrol from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, June 1st. Citigroup lowered shares of Ecopetrol from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Wednesday, June 3rd. Wall Street Zen cut shares of Ecopetrol from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings raised Ecopetrol from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 29th. Finally, UBS Group increased their price target on Ecopetrol from $13.50 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Ecopetrol presently has a consensus rating of "Reduce" and an average target price of $13.14.
Check Out Our Latest Stock Analysis on Ecopetrol
About Ecopetrol
(
Free Report)
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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