APG Asset Management N.V. raised its position in shares of Ecopetrol SA (NYSE:EC) by 17.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,231,500 shares of the oil and gas company’s stock after purchasing an additional 180,300 shares during the period. APG Asset Management N.V. owned approximately 0.06% of Ecopetrol worth $11,712,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of EC. Renaissance Technologies LLC boosted its holdings in shares of Ecopetrol by 11.1% in the 4th quarter. Renaissance Technologies LLC now owns 7,826,786 shares of the oil and gas company’s stock worth $156,223,000 after purchasing an additional 784,180 shares in the last quarter. Fisher Asset Management LLC lifted its position in Ecopetrol by 4.8% in the 1st quarter. Fisher Asset Management LLC now owns 1,730,272 shares of the oil and gas company’s stock worth $16,455,000 after buying an additional 79,773 shares during the last quarter. Legal & General Group Plc boosted its stake in Ecopetrol by 0.8% in the first quarter. Legal & General Group Plc now owns 1,284,542 shares of the oil and gas company’s stock worth $12,248,000 after buying an additional 10,199 shares in the last quarter. Point72 Asset Management L.P. grew its position in Ecopetrol by 35.0% during the fourth quarter. Point72 Asset Management L.P. now owns 1,057,900 shares of the oil and gas company’s stock valued at $21,116,000 after acquiring an additional 274,548 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Ecopetrol by 57.8% during the first quarter. Aperio Group LLC now owns 713,827 shares of the oil and gas company’s stock worth $6,788,000 after acquiring an additional 261,606 shares in the last quarter. 2.22% of the stock is owned by hedge funds and other institutional investors.
Shares of EC stock opened at $11.17 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.82 and a current ratio of 0.82. Ecopetrol SA has a fifty-two week low of $6.28 and a fifty-two week high of $20.95. The firm has a market cap of $23.48 billion, a P/E ratio of 6.42 and a beta of 1.87. The business’s 50 day moving average price is $11.35 and its 200-day moving average price is $14.14.
Ecopetrol (NYSE:EC) last announced its quarterly earnings results on Monday, May 11th. The oil and gas company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Ecopetrol had a return on equity of 11.24% and a net margin of 17.10%. As a group, equities analysts predict that Ecopetrol SA will post 0.27 EPS for the current year.
A number of equities research analysts have recently issued reports on EC shares. Morgan Stanley raised shares of Ecopetrol to a “hold” rating and set a $12.10 price objective for the company in a research note on Monday, March 16th. Citigroup lowered shares of Ecopetrol from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 9th. TheStreet cut Ecopetrol from a “b-” rating to a “c” rating in a research note on Wednesday, April 1st. Goldman Sachs Group raised Ecopetrol from a “sell” rating to a “buy” rating and lowered their target price for the company from $18.00 to $12.40 in a research note on Monday, March 23rd. Finally, Zacks Investment Research upgraded Ecopetrol from a “sell” rating to a “hold” rating in a report on Monday, June 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.30.
Ecopetrol Company Profile
Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.
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