Grantham Mayo Van Otterloo & Co. LLC Acquires 91,114 Shares of Ecopetrol S.A. (NYSE:EC)

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Ecopetrol S.A. (NYSE:EC) by 135.0% during the 1st quarter, Holdings Channel reports. The firm owned 158,600 shares of the oil and gas company’s stock after buying an additional 91,114 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Ecopetrol were worth $1,675,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Ecopetrol during the 1st quarter valued at approximately $25,000. Penserra Capital Management LLC purchased a new position in Ecopetrol during the first quarter valued at $47,000. McIlrath & Eck LLC purchased a new position in Ecopetrol during the first quarter valued at $53,000. Quadrant Capital Group LLC increased its holdings in Ecopetrol by 46.6% in the 4th quarter. Quadrant Capital Group LLC now owns 5,834 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 1,855 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Ecopetrol in the 1st quarter worth $71,000. 1.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ecopetrol Stock Performance

Ecopetrol stock opened at $11.79 on Tuesday. The company’s 50-day moving average price is $11.08 and its 200-day moving average price is $10.54. 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 company has a market cap of $24.24 billion, a PE ratio of 4.24 and a beta of 1.46. Ecopetrol S.A. has a twelve month low of $8.59 and a twelve month high of $12.35.

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.