Sunbelt Securities Inc. cut its holdings in Ecopetrol S.A. (NYSE:EC - Free Report) by 89.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,493 shares of the oil and gas company's stock after selling 97,770 shares during the period. Sunbelt Securities Inc.'s holdings in Ecopetrol were worth $103,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in Ecopetrol by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company's stock valued at $7,924,000 after acquiring an additional 13,707 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ecopetrol by 81.0% in 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 purchasing an additional 190,293 shares in the last quarter. American Century Companies Inc. lifted its position in Ecopetrol by 6.0% in the second quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company's stock worth $3,045,000 after purchasing an additional 15,467 shares during the period. Capital Wealth Planning LLC boosted its stake in 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 worth $2,492,000 after buying an additional 14,476 shares in the last quarter. Finally, Barings LLC acquired a new stake in Ecopetrol during the second quarter worth $1,830,000.
A number of brokerages have recently issued reports on EC. The Goldman Sachs Group dropped their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a "neutral" rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on shares of Ecopetrol from $8.50 to $7.50 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Ecopetrol from a "buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, Ecopetrol has a consensus rating of "Reduce" and an average price target of $8.50.
Check Out Our Latest Stock Report on Ecopetrol
Shares of EC stock opened at $8.22 on Friday. The company has a market capitalization of $16.90 billion, a P/E ratio of 3.62 and a beta of 1.21. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $13.14. 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 firm has a 50-day moving average price of $8.06 and a 200 day moving average price of $9.66.
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.
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