CWA Asset Management Group LLC Purchases New Shares in Ecopetrol S.A. $EC

CWA Asset Management Group LLC purchased a new position in shares of Ecopetrol S.A. (NYSE:EC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 98,905 shares of the oil and gas company’s stock, valued at approximately $991,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oaktree Capital Management LP raised its stake in shares of Ecopetrol by 12.3% in the second quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock worth $31,416,000 after acquiring an additional 387,700 shares during the last quarter. Jump Financial LLC grew its stake in shares of Ecopetrol by 833.7% during the third quarter. Jump Financial LLC now owns 341,880 shares of the oil and gas company’s stock valued at $3,149,000 after purchasing an additional 305,266 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Ecopetrol by 109.9% in the third quarter. Two Sigma Investments LP now owns 466,266 shares of the oil and gas company’s stock valued at $4,294,000 after purchasing an additional 244,106 shares in the last quarter. Brevan Howard Capital Management LP raised its position in Ecopetrol by 141.9% in the 3rd quarter. Brevan Howard Capital Management LP now owns 362,904 shares of the oil and gas company’s stock worth $3,342,000 after purchasing an additional 212,904 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Ecopetrol in the 3rd quarter worth approximately $1,751,000.

Ecopetrol Price Performance

EC opened at $14.29 on Tuesday. The company has a fifty day moving average price of $12.65 and a two-hundred day moving average price of $10.66. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.30 and a current ratio of 1.55. Ecopetrol S.A. has a 52 week low of $7.80 and a 52 week high of $15.37. The firm has a market capitalization of $29.37 billion, a PE ratio of 12.00 and a beta of 0.64.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EC shares. Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the company an “underperform” rating in a research report on Wednesday, February 4th. Wall Street Zen downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 price target on shares of Ecopetrol in a research note on Monday, December 1st. HSBC upgraded Ecopetrol to a “hold” rating in a report on Thursday, March 12th. Finally, Weiss Ratings raised Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 17th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.35.

Ecopetrol Profile

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.