Ballentine Partners LLC Sells 3,645 Shares of Ecopetrol S.A. $EC

Ballentine Partners LLC trimmed its position in shares of Ecopetrol S.A. (NYSE:EC) by 22.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,483 shares of the oil and gas company’s stock after selling 3,645 shares during the quarter. Ballentine Partners LLC’s holdings in Ecopetrol were worth $110,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Ecopetrol in the 2nd quarter worth approximately $2,525,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ecopetrol by 12.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,087,763 shares of the oil and gas company’s stock worth $11,356,000 after purchasing an additional 119,323 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of Ecopetrol in the 1st quarter worth approximately $1,190,000. Advisors Asset Management Inc. boosted its position in shares of Ecopetrol by 18.0% in the 1st quarter. Advisors Asset Management Inc. now owns 90,360 shares of the oil and gas company’s stock worth $943,000 after purchasing an additional 13,789 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of Ecopetrol in the 1st quarter worth approximately $2,133,000.

Ecopetrol Price Performance

NYSE:EC opened at $9.22 on Wednesday. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 7.03 and a beta of 0.88. Ecopetrol S.A. has a one year low of $7.21 and a one year high of $11.05. The business has a fifty day moving average price of $8.98 and a 200-day moving average price of $9.02.

Wall Street Analysts Forecast Growth

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

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.