Mirabella Financial Services LLP Buys Shares of 244,749 Ecopetrol S.A. (NYSE:EC)

Mirabella Financial Services LLP purchased a new position in shares of Ecopetrol S.A. (NYSE:EC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 244,749 shares of the oil and gas company’s stock, valued at approximately $1,263,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EC. Ridgewood Investments LLC acquired a new position in shares of Ecopetrol during the first quarter valued at about $25,000. Penserra Capital Management LLC purchased a new stake in Ecopetrol during the 1st quarter worth approximately $47,000. McIlrath & Eck LLC acquired a new position in Ecopetrol during the 1st quarter valued at approximately $53,000. Quadrant Capital Group LLC raised its holdings in shares of Ecopetrol by 46.6% in the fourth quarter. Quadrant Capital Group LLC now owns 5,834 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,855 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Ecopetrol during the first quarter worth $71,000. Hedge funds and other institutional investors own 1.29% of the company’s stock.

Ecopetrol Price Performance

Shares of EC stock traded up $0.11 during trading hours on Monday, hitting $11.79. 1,419,300 shares of the company’s stock were exchanged, compared to its average volume of 1,930,924. Ecopetrol S.A. has a fifty-two week low of $8.59 and a fifty-two week high of $12.35. The firm has a market cap of $24.24 billion, a P/E ratio of 4.24 and a beta of 1.46. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $11.05 and a two-hundred day moving average of $10.53.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com started coverage on shares of Ecopetrol in a report on Thursday, August 17th. They issued a “hold” rating on the stock. The Goldman Sachs Group upped their target price on Ecopetrol from $12.50 to $13.90 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Finally, Bank of America started coverage on Ecopetrol in a report on Wednesday, August 23rd. They issued a “neutral” rating and a $11.50 price target for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Ecopetrol has an average rating of “Hold” and an average price target of $12.60.

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.