Ecopetrol S.A. (NYSE:EC) Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Ecopetrol S.A. (NYSE:EC - Free Report) by 81.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 425,116 shares of the oil and gas company's stock after purchasing an additional 190,293 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Ecopetrol were worth $3,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Barings LLC acquired a new stake in shares of Ecopetrol in the 2nd quarter worth about $1,830,000. Virtu Financial LLC acquired a new stake in shares of Ecopetrol in the 2nd quarter worth about $1,476,000. Seven Eight Capital LP acquired a new stake in shares of Ecopetrol in the 2nd quarter worth about $1,192,000. Ping Capital Management Inc. acquired a new stake in shares of Ecopetrol in the 2nd quarter worth about $425,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Ecopetrol by 42.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 109,263 shares of the oil and gas company's stock worth $1,223,000 after acquiring an additional 32,766 shares during the period.

Ecopetrol Price Performance

EC traded down $0.09 on Friday, reaching $8.22. The company had a trading volume of 1,429,203 shares, compared to its average volume of 2,117,249. The company has a fifty day moving average of $8.06 and a 200-day moving average of $9.64. The company has a market capitalization of $16.90 billion, a P/E ratio of 3.62 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. Ecopetrol S.A. has a one year low of $7.21 and a one year high of $13.14.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EC shares. StockNews.com cut shares of Ecopetrol from a "buy" rating to a "hold" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their target price on shares of Ecopetrol from $8.50 to $7.50 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Ecopetrol from $11.00 to $9.50 and set a "neutral" rating for the company in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $8.50.

Ecopetrol Company Profile

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.