Ecopetrol S.A. (NYSE:EC) Shares Acquired by Glenorchy Capital Ltd

Glenorchy Capital Ltd boosted its holdings in Ecopetrol S.A. (NYSE:EC) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,583 shares of the oil and gas company’s stock after acquiring an additional 7,584 shares during the period. Glenorchy Capital Ltd’s holdings in Ecopetrol were worth $479,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Ecopetrol during the second quarter valued at about $27,000. Blue Trust Inc. raised its position in Ecopetrol by 258.6% in the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,945 shares during the period. GAMMA Investing LLC lifted its stake in Ecopetrol by 58.2% during the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 2,355 shares in the last quarter. MQS Management LLC acquired a new position in Ecopetrol during the first quarter worth $125,000. Finally, Cetera Advisors LLC purchased a new position in shares of Ecopetrol during the first quarter worth $141,000.

Ecopetrol Stock Performance

Shares of EC opened at $8.23 on Friday. Ecopetrol S.A. has a 1 year low of $8.13 and a 1 year high of $13.14. The stock has a market capitalization of $16.92 billion, a PE ratio of 3.58 and a beta of 1.20. The stock has a 50-day simple moving average of $9.35 and a 200-day simple moving average of $10.76.

Ecopetrol (NYSE:EC) last issued its quarterly earnings results on Wednesday, August 14th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.15). Ecopetrol had a return on equity of 6.64% and a net margin of 13.92%. The firm had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Analysts predict that Ecopetrol S.A. will post 2.06 EPS for the current year.

Analyst Upgrades and Downgrades

EC has been the topic of several research reports. JPMorgan Chase & Co. lowered Ecopetrol from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $12.00 to $8.50 in a research note on Wednesday, September 25th. StockNews.com cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their target price on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, Ecopetrol currently has a consensus rating of “Reduce” and a consensus price target of $8.83.

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.