Advisors Asset Management Inc. Sells 6,921 Shares of Ecopetrol S.A. (NYSE:EC)

Advisors Asset Management Inc. cut its stake in Ecopetrol S.A. (NYSE:ECGet Rating) by 40.0% during the second quarter, HoldingsChannel reports. The fund owned 10,368 shares of the oil and gas company’s stock after selling 6,921 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ecopetrol were worth $113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EC. Candriam Luxembourg S.C.A. purchased a new position in shares of Ecopetrol in the 1st quarter valued at $25,834,000. BlackRock Inc. increased its holdings in shares of Ecopetrol by 98.0% in the 1st quarter. BlackRock Inc. now owns 2,776,889 shares of the oil and gas company’s stock valued at $51,650,000 after acquiring an additional 1,374,075 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Ecopetrol in the 1st quarter valued at $14,665,000. Fisher Asset Management LLC increased its holdings in shares of Ecopetrol by 71.9% in the 1st quarter. Fisher Asset Management LLC now owns 1,578,099 shares of the oil and gas company’s stock valued at $29,353,000 after acquiring an additional 660,298 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Ecopetrol by 933.4% during the 1st quarter. Acadian Asset Management LLC now owns 687,775 shares of the oil and gas company’s stock worth $12,782,000 after buying an additional 621,219 shares during the last quarter. 1.44% of the stock is currently owned by hedge funds and other institutional investors.

Ecopetrol Stock Up 6.2 %

Shares of EC stock opened at $10.25 on Wednesday. Ecopetrol S.A. has a 1-year low of $8.59 and a 1-year high of $19.81. The stock’s fifty day moving average price is $9.79 and its 200 day moving average price is $11.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.11. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.05 and a beta of 1.56.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Ecopetrol in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.60.

Ecopetrol Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding EC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecopetrol S.A. (NYSE:ECGet Rating).

Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

Receive News & Ratings for Ecopetrol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol and related companies with MarketBeat.com's FREE daily email newsletter.