Fisher Asset Management LLC Sells 194,160 Shares of Ecopetrol S.A. (NYSE:EC)

Fisher Asset Management LLC decreased its position in shares of Ecopetrol S.A. (NYSE:EC - Free Report) by 26.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 533,686 shares of the oil and gas company's stock after selling 194,160 shares during the period. Fisher Asset Management LLC's holdings in Ecopetrol were worth $4,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of Ecopetrol during the 2nd quarter worth approximately $27,000. Blue Trust Inc. increased its stake in Ecopetrol by 258.6% in the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,945 shares during the period. GAMMA Investing LLC lifted its position in shares of Ecopetrol by 58.2% during the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 2,355 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Ecopetrol during the first quarter valued at $141,000. Finally, Straight Path Wealth Management grew its holdings in shares of Ecopetrol by 7.4% in the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company's stock worth $163,000 after purchasing an additional 1,000 shares during the last quarter.

Analyst Ratings Changes

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

Ecopetrol Stock Down 0.1 %

Ecopetrol stock traded down $0.01 during midday trading on Friday, hitting $8.03. 1,157,862 shares of the company's stock were exchanged, compared to its average volume of 2,118,539. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. The company has a market cap of $16.51 billion, a PE ratio of 3.54 and a beta of 1.21. The firm has a 50-day moving average of $8.24 and a two-hundred day moving average of $9.95. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $13.14.

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.