Russell Investments Group Ltd. Cuts Stake in Ecopetrol SA (EC)

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Russell Investments Group Ltd. trimmed its position in Ecopetrol SA (NYSE:EC) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,783,139 shares of the oil and gas company’s stock after selling 16,338 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Ecopetrol worth $47,452,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC raised its holdings in shares of Ecopetrol by 54.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 15,400 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 5,400 shares during the period. Standard Life Aberdeen plc purchased a new stake in shares of Ecopetrol during the 2nd quarter valued at about $1,226,000. Banco de Sabadell S.A raised its holdings in shares of Ecopetrol by 317.0% during the 2nd quarter. Banco de Sabadell S.A now owns 39,934 shares of the oil and gas company’s stock valued at $815,000 after buying an additional 30,357 shares during the period. Todd Asset Management LLC purchased a new stake in shares of Ecopetrol during the 2nd quarter valued at about $3,181,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ecopetrol during the 2nd quarter valued at about $628,000. Institutional investors own 2.85% of the company’s stock.

Shares of NYSE:EC opened at $23.11 on Tuesday. The stock has a market cap of $48.50 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.78 and a beta of 1.26. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. Ecopetrol SA has a one year low of $10.86 and a one year high of $27.96.

Ecopetrol (NYSE:EC) last announced its earnings results on Tuesday, August 14th. The oil and gas company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.99 billion. Ecopetrol had a return on equity of 11.69% and a net margin of 17.52%. On average, equities analysts forecast that Ecopetrol SA will post 2.07 earnings per share for the current year.

Several brokerages recently commented on EC. Zacks Investment Research upgraded Ecopetrol from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, October 23rd. Citigroup upgraded Ecopetrol from a “sell” rating to a “neutral” rating in a report on Thursday, August 2nd. ValuEngine downgraded Ecopetrol from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Raymond James upgraded Ecopetrol from an “underperform” rating to a “market perform” rating in a report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Ecopetrol presently has an average rating of “Hold” and a consensus price target of $17.67.

About Ecopetrol

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

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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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