Ecopetrol S.A. $EC Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Ecopetrol S.A. (NYSE:EC) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,214,426 shares of the oil and gas company’s stock after acquiring an additional 66,567 shares during the period. Vanguard Group Inc. owned 0.16% of Ecopetrol worth $33,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC bought a new stake in shares of Ecopetrol in the 4th quarter worth approximately $3,019,000. Truffle Hound Capital LLC bought a new stake in shares of Ecopetrol in the 1st quarter worth approximately $3,132,000. GAMMA Investing LLC raised its holdings in shares of Ecopetrol by 1,639.4% in the 1st quarter. GAMMA Investing LLC now owns 272,620 shares of the oil and gas company’s stock worth $26,113,000 after purchasing an additional 256,947 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Ecopetrol in the 4th quarter worth approximately $1,441,000. Finally, Empirical Finance LLC bought a new stake in shares of Ecopetrol in the 1st quarter worth approximately $1,806,000.

Ecopetrol Trading Up 0.8%

NYSE EC opened at $9.23 on Thursday. Ecopetrol S.A. has a 1-year low of $7.21 and a 1-year high of $11.05. The company has a market capitalization of $18.97 billion, a PE ratio of 6.07 and a beta of 0.83. The firm’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $9.15.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One 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, the company currently has an average rating of “Hold” and an average target price of $11.00.

About Ecopetrol

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.