Ecopetrol S.A. (NYSE:EC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in shares of Ecopetrol S.A. (NYSE:EC – Get Rating) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,228,430 shares of the oil and gas company’s stock after selling 514,000 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Ecopetrol worth $10,970,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EC. BlackRock Inc. boosted its position in shares of Ecopetrol by 98.0% during the 1st quarter. BlackRock Inc. now owns 2,776,889 shares of the oil and gas company’s stock valued at $51,650,000 after purchasing an additional 1,374,075 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Ecopetrol during the 3rd quarter valued at about $8,220,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Ecopetrol during the 1st quarter valued at about $14,665,000. Millennium Management LLC boosted its position in shares of Ecopetrol by 3,117.7% during the 2nd quarter. Millennium Management LLC now owns 464,862 shares of the oil and gas company’s stock valued at $5,048,000 after purchasing an additional 450,415 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Ecopetrol by 2,154.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 290,495 shares of the oil and gas company’s stock valued at $3,155,000 after purchasing an additional 277,610 shares in the last quarter. Institutional investors own 1.30% of the company’s stock.

Ecopetrol Stock Performance

Shares of EC opened at $11.43 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.36 and a quick ratio of 1.11. The stock has a market cap of $23.50 billion, a price-to-earnings ratio of 3.00 and a beta of 1.41. The company has a 50-day moving average of $10.97 and a two-hundred day moving average of $10.29. Ecopetrol S.A. has a one year low of $8.59 and a one year high of $19.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Ecopetrol from $10.30 to $12.40 and gave the company a “neutral” rating in a research report on Friday, January 27th. UBS Group cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, February 9th. StockNews.com cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Friday, December 9th. Finally, HSBC cut shares of Ecopetrol from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.50 to $12.00 in a report on Friday, February 10th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, Ecopetrol currently has a consensus rating of “Hold” and an average price target of $12.47.

About Ecopetrol

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Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates through the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities.