Lazard Asset Management LLC Has $8.02 Million Holdings in Ecopetrol S.A. (EC)
Lazard Asset Management LLC raised its stake in Ecopetrol S.A. (NYSE:EC) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 882,515 shares of the oil and gas company’s stock after buying an additional 17,891 shares during the quarter. Lazard Asset Management LLC’s holdings in Ecopetrol were worth $8,021,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in EC. Point View Wealth Management Inc. acquired a new stake in shares of Ecopetrol during the second quarter worth about $100,000. Greenleaf Trust acquired a new stake in shares of Ecopetrol during the second quarter worth about $105,000. Conning Inc. acquired a new stake in shares of Ecopetrol during the second quarter worth about $113,000. KCG Holdings Inc. acquired a new stake in shares of Ecopetrol during the first quarter worth about $129,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Ecopetrol by 5.5% during the first quarter. Envestnet Asset Management Inc. now owns 13,951 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 729 shares during the period. 2.11% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Ecopetrol S.A. (NYSE:EC) opened at 9.55 on Friday. The stock’s 50 day moving average price is $9.24 and its 200-day moving average price is $9.24. Ecopetrol S.A. has a 52-week low of $7.65 and a 52-week high of $10.36. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 16.47 and a beta of 1.04.
A number of research firms have recently commented on EC. BidaskClub lowered Ecopetrol from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zacks Investment Research lowered Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine lowered Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Scotiabank lowered Ecopetrol from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, HSBC Holdings plc raised Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.25.
Ecopetrol Company Profile
Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
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