Tidal Investments LLC Grows Stake in Ecopetrol S.A. (NYSE:EC)

Tidal Investments LLC lifted its stake in Ecopetrol S.A. (NYSE:EC) by 18.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 39,301 shares of the oil and gas company’s stock after buying an additional 6,222 shares during the quarter. Tidal Investments LLC’s holdings in Ecopetrol were worth $351,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EC. Crossmark Global Holdings Inc. increased its stake in Ecopetrol by 1.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock valued at $7,924,000 after purchasing an additional 13,707 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ecopetrol by 81.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock valued at $3,796,000 after buying an additional 190,293 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Ecopetrol by 6.0% during the second quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company’s stock valued at $3,045,000 after buying an additional 15,467 shares during the last quarter. Capital Wealth Planning LLC increased its position in shares of Ecopetrol by 7.0% during the second quarter. Capital Wealth Planning LLC now owns 222,706 shares of the oil and gas company’s stock valued at $2,492,000 after acquiring an additional 14,476 shares in the last quarter. Finally, Barings LLC purchased a new position in Ecopetrol in the 2nd quarter worth approximately $1,830,000.

Ecopetrol Price Performance

Shares of NYSE:EC opened at $7.54 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $15.50 billion, a PE ratio of 3.32 and a beta of 1.21. The firm’s 50 day moving average price is $7.96 and its 200-day moving average price is $9.49. Ecopetrol S.A. has a twelve month low of $7.21 and a twelve month high of $12.90.

Analyst Ratings Changes

Several analysts have commented on EC shares. JPMorgan Chase & Co. cut their target price on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group decreased their target price on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Three equities 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 an average rating of “Reduce” and a consensus price target of $8.50.

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.