Ecopetrol S.A. (EC) Stake Lowered by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. reduced its position in Ecopetrol S.A. (NYSE:EC) by 28.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,340 shares of the oil and gas company’s stock after selling 50,790 shares during the period. Deprince Race & Zollo Inc.’s holdings in Ecopetrol were worth $1,167,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Greenleaf Trust acquired a new position in Ecopetrol during the second quarter worth approximately $105,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Ecopetrol by 500.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 12,000 shares of the oil and gas company’s stock worth $111,000 after buying an additional 10,000 shares during the last quarter. Conning Inc. acquired a new position in Ecopetrol during the second quarter worth approximately $113,000. KCG Holdings Inc. acquired a new position in Ecopetrol during the first quarter worth approximately $129,000. Finally, Envestnet Asset Management Inc. raised its position in Ecopetrol by 5.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,951 shares of the oil and gas company’s stock worth $130,000 after buying an additional 729 shares during the last quarter. Institutional investors and hedge funds own 2.20% of the company’s stock.
Ecopetrol S.A. (EC) opened at 9.19 on Monday. Ecopetrol S.A. has a 1-year low of $7.65 and a 1-year high of $10.36. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 16.41 and a beta of 1.05. The stock has a 50 day moving average price of $9.15 and a 200-day moving average price of $9.24.
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A number of equities analysts have recently commented on EC shares. ValuEngine upgraded Ecopetrol from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Ecopetrol from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, July 11th. HSBC Holdings plc upgraded Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Monday, June 5th. TheStreet upgraded Ecopetrol from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, Morgan Stanley lowered Ecopetrol from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $9.40 to $8.00 in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.25.
Ecopetrol Company Profile
Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
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