Ecopetrol S.A. $EC Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its position in shares of Ecopetrol S.A. (NYSE:EC) by 20.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,679 shares of the oil and gas company’s stock after selling 5,434 shares during the quarter. GAMMA Investing LLC’s holdings in Ecopetrol were worth $183,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blume Capital Management Inc. purchased a new position in Ecopetrol in the first quarter valued at $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ecopetrol during the 1st quarter valued at about $46,000. Public Employees Retirement System of Ohio purchased a new position in shares of Ecopetrol in the 4th quarter valued at about $97,000. Avantax Advisory Services Inc. acquired a new position in Ecopetrol in the 1st quarter worth about $106,000. Finally, Sowell Financial Services LLC acquired a new stake in Ecopetrol in the first quarter valued at approximately $116,000.

Ecopetrol Price Performance

Shares of Ecopetrol stock opened at $9.43 on Monday. The business has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $9.02. The stock has a market capitalization of $19.38 billion, a P/E ratio of 7.19 and a beta of 0.88. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $11.05.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.75.

Ecopetrol Profile

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.