World Asset Management Inc Decreases Stock Holdings in Ecopetrol SA (NYSE:EC)

World Asset Management Inc decreased its position in Ecopetrol SA (NYSE:EC) by 4.4% during the second quarter, Holdings Channel.com reports. The fund owned 29,735 shares of the oil and gas company’s stock after selling 1,375 shares during the quarter. World Asset Management Inc’s holdings in Ecopetrol were worth $544,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its position in shares of Ecopetrol by 116.6% during the first quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 708 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Ecopetrol during the first quarter valued at about $109,000. Advisors Preferred LLC purchased a new position in shares of Ecopetrol during the first quarter valued at about $110,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Ecopetrol during the second quarter valued at about $208,000. Finally, NumerixS Investment Technologies Inc increased its position in shares of Ecopetrol by 34.2% during the first quarter. NumerixS Investment Technologies Inc now owns 13,054 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 3,327 shares during the period. Hedge funds and other institutional investors own 2.84% of the company’s stock.

Several equities analysts recently issued reports on EC shares. ValuEngine cut shares of Ecopetrol from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.33.

Shares of NYSE EC traded down $0.30 during midday trading on Friday, hitting $17.19. 679,138 shares of the company traded hands, compared to its average volume of 530,457. Ecopetrol SA has a 12-month low of $15.25 and a 12-month high of $27.96. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $18.46. The company has a market capitalization of $35.96 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.52 and a beta of 1.53.

Ecopetrol (NYSE:EC) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Ecopetrol had a net margin of 16.56% and a return on equity of 10.58%. Sell-side analysts predict that Ecopetrol SA will post 1.95 earnings per share for the current year.

Ecopetrol Profile

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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