Aigen Investment Management LP Acquires New Stake in Ecopetrol S.A. (NYSE:EC)

Aigen Investment Management LP bought a new position in Ecopetrol S.A. (NYSE:EC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,026 shares of the oil and gas company’s stock, valued at approximately $188,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Ecopetrol in the second quarter valued at $27,000. Blue Trust Inc. boosted its position in shares of Ecopetrol by 258.6% during the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,945 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Ecopetrol by 58.2% in the 2nd 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. MQS Management LLC bought a new stake in shares of Ecopetrol in the 1st quarter worth approximately $125,000. Finally, Cetera Advisors LLC acquired a new stake in Ecopetrol during the first quarter valued at approximately $141,000.

Ecopetrol Stock Up 2.5 %

Shares of Ecopetrol stock opened at $7.92 on Friday. Ecopetrol S.A. has a 1 year low of $7.21 and a 1 year high of $13.14. The company has a market cap of $16.28 billion, a P/E ratio of 3.49 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. The stock has a 50-day moving average price of $8.44 and a 200 day moving average price of $10.20.

Ecopetrol (NYSE:EC) last posted its quarterly earnings results on Wednesday, August 14th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.15). Ecopetrol had a return on equity of 9.42% and a net margin of 13.92%. The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $8.49 billion. As a group, analysts expect that Ecopetrol S.A. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EC has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. StockNews.com upgraded Ecopetrol from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.