Brevan Howard Capital Management LP Purchases 212,904 Shares of Ecopetrol S.A. $EC

Brevan Howard Capital Management LP increased its position in Ecopetrol S.A. (NYSE:EC) by 141.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 362,904 shares of the oil and gas company’s stock after acquiring an additional 212,904 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Ecopetrol were worth $3,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EC. Y Intercept Hong Kong Ltd boosted its position in Ecopetrol by 0.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 253,797 shares of the oil and gas company’s stock worth $2,337,000 after purchasing an additional 1,100 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Ecopetrol by 7.1% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 21,180 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 1,400 shares in the last quarter. St. Louis Financial Planners Asset Management LLC lifted its stake in shares of Ecopetrol by 11.3% during the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 19,494 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 1,986 shares in the last quarter. Sowell Financial Services LLC grew its stake in Ecopetrol by 21.8% in the 3rd quarter. Sowell Financial Services LLC now owns 13,968 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 2,500 shares in the last quarter. Finally, Smartleaf Asset Management LLC purchased a new position in Ecopetrol in the 2nd quarter valued at approximately $25,000.

Ecopetrol Stock Up 1.9%

Shares of NYSE:EC opened at $14.12 on Tuesday. The firm has a fifty day moving average price of $12.27 and a two-hundred day moving average price of $10.48. The company has a market cap of $29.02 billion, a price-to-earnings ratio of 11.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.55 and a quick ratio of 1.30. Ecopetrol S.A. has a one year low of $7.80 and a one year high of $14.29.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Ecopetrol from a “hold” rating to a “buy” rating in a report on Saturday. HSBC upgraded Ecopetrol to a “hold” rating in a research report on Thursday, March 12th. Weiss Ratings raised Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 17th. Bradesco Corretora set a $12.00 target price on Ecopetrol and gave the stock an “underperform” rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 target price on shares of Ecopetrol in a report on Monday, December 1st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ecopetrol has a consensus rating of “Reduce” and an average price target of $10.35.

About Ecopetrol

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.