Ecopetrol S.A. $EC Shares Bought by Oaktree Capital Management LP

Oaktree Capital Management LP grew its position in Ecopetrol S.A. (NYSE:EC) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,549,822 shares of the oil and gas company’s stock after acquiring an additional 387,700 shares during the quarter. Oaktree Capital Management LP owned about 0.17% of Ecopetrol worth $31,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EC. Marshall Wace LLP acquired a new position in shares of Ecopetrol in the 2nd quarter valued at $333,000. Fisher Asset Management LLC grew its position in Ecopetrol by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 456,819 shares of the oil and gas company’s stock worth $4,043,000 after purchasing an additional 13,961 shares during the last quarter. Leuthold Group LLC purchased a new position in Ecopetrol during the 2nd quarter worth $231,000. Schroder Investment Management Group acquired a new position in Ecopetrol in the second quarter valued at $888,000. Finally, Capital Fund Management S.A. raised its holdings in shares of Ecopetrol by 529.6% in the second quarter. Capital Fund Management S.A. now owns 165,697 shares of the oil and gas company’s stock valued at $1,466,000 after buying an additional 139,381 shares during the last quarter.

Ecopetrol Stock Down 0.7%

NYSE EC opened at $10.06 on Friday. The stock has a market capitalization of $20.67 billion, a P/E ratio of 7.68 and a beta of 0.68. Ecopetrol S.A. has a 52-week low of $7.41 and a 52-week high of $11.05. The firm has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.16.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Ecopetrol in a report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 price objective on shares of Ecopetrol in a research report on Monday. Finally, Zacks Research upgraded Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ecopetrol presently has a consensus rating of “Hold” and a consensus price target of $10.73.

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.