JPMorgan Chase & Co. Decreases Stock Holdings in Ecopetrol S.A. (NYSE:EC)

JPMorgan Chase & Co. trimmed its holdings in Ecopetrol S.A. (NYSE:EC - Free Report) by 33.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 692,168 shares of the oil and gas company's stock after selling 345,754 shares during the period. JPMorgan Chase & Co.'s holdings in Ecopetrol were worth $6,181,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EC. Charles Schwab Investment Management Inc. increased its position in shares of Ecopetrol by 81.0% during 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 acquiring an additional 190,293 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ecopetrol during the 2nd quarter worth approximately $1,476,000. Verition Fund Management LLC acquired a new stake in Ecopetrol in the 3rd quarter valued at approximately $1,061,000. Seven Eight Capital LP purchased a new stake in Ecopetrol in the second quarter valued at approximately $1,192,000. Finally, Hilltop Holdings Inc. purchased a new stake in Ecopetrol in the third quarter valued at approximately $458,000.

Analyst Upgrades and Downgrades

EC has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on 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. dropped their target price on Ecopetrol from $8.50 to $7.50 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of 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 issued a hold rating to the company's stock. According to MarketBeat.com, Ecopetrol has a consensus rating of "Reduce" and a consensus target price of $8.50.

Ecopetrol Stock Up 0.4 %

NYSE:EC traded up $0.04 during midday trading on Thursday, reaching $8.64. The company had a trading volume of 2,181,878 shares, compared to its average volume of 2,402,010. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $12.90. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 3.80 and a beta of 1.19. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. The stock's fifty day simple moving average is $7.99 and its 200-day simple moving average is $9.04.

Ecopetrol 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.