Vident Advisory LLC Has $527,000 Stake in Ecopetrol S.A. $EC

Key Points

• Vident Advisory LLC increased its stake in Ecopetrol S.A. by 133.3% during the first quarter, bringing its holdings to a total value of $527,000.
• Several institutional investors, including Wells Fargo and BNP Paribas, also expanded their positions in Ecopetrol during the previous quarter, indicating growing interest in the company.
• Ecopetrol has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, with a consensus target price set at $11.00 amid positive analyst sentiment.

Vident Advisory LLC increased its position in Ecopetrol S.A. (NYSE:EC - Free Report) by 133.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,491 shares of the oil and gas company's stock after buying an additional 28,850 shares during the quarter. Vident Advisory LLC's holdings in Ecopetrol were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blume Capital Management Inc. acquired a new position in shares of Ecopetrol in the first quarter valued at approximately $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ecopetrol in the first quarter valued at approximately $46,000. Avantax Advisory Services Inc. acquired a new position in shares of Ecopetrol in the first quarter valued at approximately $106,000. Sowell Financial Services LLC acquired a new position in shares of Ecopetrol in the first quarter valued at approximately $116,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ecopetrol in the fourth quarter valued at approximately $97,000.

Analyst Ratings Changes

Separately, Zacks Research raised Ecopetrol from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Ecopetrol has a consensus rating of "Hold" and an average price target of $11.00.

Ecopetrol Trading Down 1.1%

NYSE:EC traded down $0.10 on Friday, reaching $9.15. 1,262,643 shares of the stock traded hands, compared to its average volume of 1,664,944. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 6.98 and a beta of 0.88. The company's 50 day moving average is $8.90 and its 200-day moving average is $9.06. Ecopetrol S.A. has a 1-year low of $7.21 and a 1-year high of $11.05.

Ecopetrol Company 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.