120,023 Shares in Ecopetrol S.A. $EC Bought by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in shares of Ecopetrol S.A. (NYSE:EC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 120,023 shares of the oil and gas company’s stock, valued at approximately $1,709,000.

Several other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Ecopetrol by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock worth $14,107,000 after buying an additional 41,075 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ecopetrol by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock valued at $10,534,000 after buying an additional 102,505 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ecopetrol by 7.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock valued at $9,375,000 after acquiring an additional 64,614 shares during the last quarter. Militia Capital Partners LP lifted its holdings in shares of Ecopetrol by 16.1% in the 2nd quarter. Militia Capital Partners LP now owns 556,200 shares of the oil and gas company’s stock valued at $4,922,000 after acquiring an additional 77,000 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Ecopetrol by 109.9% in the 3rd quarter. Two Sigma Investments LP now owns 466,266 shares of the oil and gas company’s stock valued at $4,294,000 after acquiring an additional 244,106 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Citigroup lowered Ecopetrol from a “buy” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ecopetrol in a report on Wednesday, August 26th. Wall Street Zen downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, UBS Group increased their price target on Ecopetrol from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $13.54.

Ecopetrol Stock Performance

Shares of NYSE:EC opened at $17.71 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 0.93. Ecopetrol S.A. has a 12 month low of $8.57 and a 12 month high of $18.19. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 1.34 and a beta of 0.44. The firm’s 50-day moving average is $16.69 and its 200 day moving average is $15.10.

Ecopetrol (NYSE:EC) last announced its earnings results on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter. The business had revenue of $11.72 billion during the quarter. Ecopetrol had a return on equity of 18.16% and a net margin of 11.46%. Research analysts predict that Ecopetrol S.A. will post 1.85 EPS for the current year.

About Ecopetrol

Ecopetrol SA is an integrated energy company based in Colombia and one of the country’s principal producers of oil and natural gas. Its activities include exploration and production of hydrocarbons, crude oil and fuel transportation, refining, petrochemicals, and the distribution and marketing of petroleum products and natural gas.

The company operates through a broad energy infrastructure network that includes pipelines, storage facilities, refineries, ports, and other midstream assets.