Verition Fund Management LLC Takes Position in Ecopetrol S.A. (NYSE:EC)

Verition Fund Management LLC acquired a new stake in Ecopetrol S.A. (NYSE:EC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 118,775 shares of the oil and gas company's stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Straight Path Wealth Management lifted its position in shares of Ecopetrol by 7.4% during the 2nd quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company's stock valued at $163,000 after acquiring an additional 1,000 shares during the period. Creative Planning raised its holdings in Ecopetrol by 2.7% during the second quarter. Creative Planning now owns 46,864 shares of the oil and gas company's stock worth $524,000 after purchasing an additional 1,219 shares during the last quarter. Blue Trust Inc. raised its holdings in Ecopetrol by 258.6% during 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 last quarter. Ridgewood Investments LLC purchased a new stake in Ecopetrol during the second quarter worth $27,000. Finally, SeaCrest Wealth Management LLC grew its holdings in Ecopetrol by 5.6% in the second quarter. SeaCrest Wealth Management LLC now owns 59,397 shares of the oil and gas company's stock valued at $665,000 after purchasing an additional 3,145 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EC. The Goldman Sachs Group dropped their target price 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 lowered Ecopetrol from a "buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their target price 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. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, Ecopetrol has an average rating of "Reduce" and an average target price of $8.50.

Ecopetrol Trading Up 4.4 %

Shares of Ecopetrol stock traded up $0.34 during trading hours on Monday, reaching $8.21. 3,719,435 shares of the company's stock were exchanged, compared to its average volume of 2,123,120. Ecopetrol S.A. has a 52-week low of $7.21 and a 52-week high of $13.14. The company has a fifty day moving average of $8.12 and a 200-day moving average of $9.75. 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 firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 3.61 and a beta of 1.21.

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.