Allianz Asset Management GmbH Purchases 69,080 Shares of Ecopetrol S.A. $EC

Allianz Asset Management GmbH increased its position in shares of Ecopetrol S.A. (NYSE:EC) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 520,754 shares of the oil and gas company’s stock after purchasing an additional 69,080 shares during the period. Allianz Asset Management GmbH’s holdings in Ecopetrol were worth $4,796,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd raised its stake in shares of Ecopetrol by 0.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 253,797 shares of the oil and gas company’s stock worth $2,337,000 after acquiring an additional 1,100 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Ecopetrol by 7.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 21,180 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,400 shares during the last quarter. St. Louis Financial Planners Asset Management LLC increased its position in shares of Ecopetrol by 11.3% during the third quarter. St. Louis Financial Planners Asset Management LLC now owns 19,494 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 1,986 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Ecopetrol by 21.8% during the 3rd quarter. Sowell Financial Services LLC now owns 13,968 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Smartleaf Asset Management LLC purchased a new stake in shares of Ecopetrol during the 2nd quarter valued at $25,000.

Ecopetrol Stock Performance

NYSE EC opened at $12.05 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.26 and a current ratio of 1.53. Ecopetrol S.A. has a fifty-two week low of $7.80 and a fifty-two week high of $13.27. The stock’s fifty day moving average is $10.95 and its two-hundred day moving average is $9.84. The firm has a market capitalization of $24.77 billion, a P/E ratio of 10.13 and a beta of 0.63.

Wall Street Analyst Weigh In

EC has been the subject of several recent analyst reports. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Bradesco Corretora set a $12.00 price target on shares of Ecopetrol and gave the stock an “underperform” rating in a research report on Wednesday, February 4th. Weiss Ratings cut Ecopetrol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $8.70 price target on shares of Ecopetrol in a report on Monday, December 1st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $11.05.

About Ecopetrol

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.