Ecopetrol S.A. (NYSE:EC) Stock Holdings Boosted by Ping Capital Management Inc.

Ping Capital Management Inc. raised its holdings in Ecopetrol S.A. (NYSE:EC) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the oil and gas company’s stock after acquiring an additional 12,000 shares during the quarter. Ping Capital Management Inc.’s holdings in Ecopetrol were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in EC. Creative Planning boosted its holdings in shares of Ecopetrol by 2.7% in the second quarter. Creative Planning now owns 46,864 shares of the oil and gas company’s stock worth $524,000 after buying an additional 1,219 shares during the period. Blue Trust Inc. raised its stake in Ecopetrol by 33.5% during the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 2,128 shares during the period. Tidal Investments LLC lifted its holdings in shares of Ecopetrol by 18.8% in the third quarter. Tidal Investments LLC now owns 39,301 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 6,222 shares in the last quarter. Glenorchy Capital Ltd raised its position in Ecopetrol by 16.5% during the third quarter. Glenorchy Capital Ltd now owns 53,583 shares of the oil and gas company’s stock valued at $479,000 after buying an additional 7,584 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Ecopetrol during the fourth quarter valued at $86,000.

Ecopetrol Stock Performance

EC opened at $9.84 on Wednesday. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $12.90. The stock’s 50 day moving average price is $8.23 and its two-hundred day moving average price is $8.81. The firm has a market capitalization of $20.22 billion, a P/E ratio of 4.71 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.50.

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.