Headlands Technologies LLC Invests $357,000 in Ecopetrol S.A. (NYSE:EC)

Headlands Technologies LLC bought a new stake in Ecopetrol S.A. (NYSE:EC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 31,864 shares of the oil and gas company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EC. Ridgewood Investments LLC acquired a new position in Ecopetrol in the second quarter valued at $27,000. Blue Trust Inc. increased its position in Ecopetrol by 258.6% in the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,945 shares during the period. GAMMA Investing LLC grew its stake in shares of Ecopetrol by 58.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,355 shares during the last quarter. MQS Management LLC acquired a new position in shares of Ecopetrol in the first quarter valued at approximately $125,000. Finally, Cetera Advisors LLC purchased a new stake in shares of Ecopetrol during the first quarter worth approximately $141,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EC shares. Bank of America lowered shares of Ecopetrol from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 30th. StockNews.com lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.22.

Ecopetrol Stock Up 2.3 %

Shares of NYSE EC opened at $9.17 on Friday. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 3.98 and a beta of 1.20. Ecopetrol S.A. has a 52 week low of $8.67 and a 52 week high of $13.14. The firm has a 50-day moving average price of $10.30 and a 200 day moving average price of $11.17. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.90.

About Ecopetrol

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.