Virtu Financial LLC Reduces Stock Position in Ecopetrol S.A. (NYSE:EC)

Virtu Financial LLC lessened its holdings in Ecopetrol S.A. (NYSE:EC - Free Report) by 73.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,637 shares of the oil and gas company's stock after selling 97,287 shares during the period. Virtu Financial LLC's holdings in Ecopetrol were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Ridgewood Investments LLC bought a new stake in Ecopetrol in the second quarter worth about $27,000. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 1,945 shares during the period. Cetera Advisors LLC purchased a new position in shares of Ecopetrol in the first quarter valued at $141,000. Straight Path Wealth Management raised its stake 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 purchasing an additional 1,000 shares during the period. Finally, Rathbones Group PLC purchased a new stake in Ecopetrol during the 2nd quarter worth about $172,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EC shares. StockNews.com lowered Ecopetrol from a "buy" rating to a "hold" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price objective 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. Finally, The Goldman Sachs Group lowered their target price on shares of Ecopetrol from $11.00 to $9.50 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $8.50.

Ecopetrol Price Performance

NYSE:EC traded down $0.06 during midday trading on Tuesday, hitting $7.89. The company had a trading volume of 2,470,156 shares, compared to its average volume of 2,121,516. The stock's fifty day moving average price is $8.02 and its 200-day moving average price is $9.58. Ecopetrol S.A. has a 52-week low of $7.21 and a 52-week high of $13.14. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $16.22 billion, a PE ratio of 3.48 and a beta of 1.21.

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.