Wealth High Governance Asset Management Ltda. Acquires New Holdings in Ecopetrol S.A. $EC

Wealth High Governance Asset Management Ltda. bought a new stake in Ecopetrol S.A. (NYSE:EC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 137,208 shares of the oil and gas company’s stock, valued at approximately $2,057,000.

Several other large investors have also recently bought and sold shares of EC. Fundamenta Capital S.A. acquired a new stake in shares of Ecopetrol in the 4th quarter worth approximately $20,135,000. Charles Schwab Investment Management Inc. grew its position in Ecopetrol by 3.0% in the fourth 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 buying an additional 41,075 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ecopetrol by 9.4% during the second 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 during the period. Goldman Sachs Group Inc. raised its holdings in 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 buying an additional 64,614 shares during the period. Finally, Militia Capital Partners LP raised its holdings in shares of Ecopetrol by 16.1% during the second quarter. Militia Capital Partners LP now owns 556,200 shares of the oil and gas company’s stock valued at $4,922,000 after acquiring an additional 77,000 shares during the period.

Ecopetrol Stock Performance

NYSE:EC opened at $16.75 on Monday. Ecopetrol S.A. has a 12-month low of $8.27 and a 12-month high of $17.75. 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 firm has a market capitalization of $34.44 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.44. The firm has a 50-day moving average price of $15.58 and a 200 day moving average price of $14.08.

Ecopetrol (NYSE:EC) last announced its quarterly earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 EPS for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. Research analysts anticipate that Ecopetrol S.A. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EC. Citigroup lowered shares of Ecopetrol from a “buy” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, June 1st. Wall Street Zen lowered Ecopetrol from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group upped their target price on Ecopetrol from $13.50 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Zacks Research lowered shares of Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.14.

Ecopetrol Profile

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.