Creative Planning Sells 1,902 Shares of Ecopetrol S.A. (NYSE:EC)

Creative Planning lowered its stake in shares of Ecopetrol S.A. (NYSE:EC) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 44,962 shares of the oil and gas company’s stock after selling 1,902 shares during the quarter. Creative Planning’s holdings in Ecopetrol were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Ecopetrol during the second quarter worth $27,000. Blue Trust Inc. increased its position 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 acquiring an additional 1,945 shares during the period. GAMMA Investing LLC increased its position in Ecopetrol by 58.2% during the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 2,355 shares during the period. MQS Management LLC bought a new position in Ecopetrol during the first quarter worth $125,000. Finally, Cetera Advisors LLC bought a new stake in Ecopetrol in the 1st quarter valued at $141,000.

Ecopetrol Stock Up 1.1 %

Shares of NYSE:EC opened at $7.65 on Friday. Ecopetrol S.A. has a 52 week low of $7.43 and a 52 week high of $13.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. The company’s fifty day moving average is $8.72 and its 200-day moving average is $10.39. The company has a market capitalization of $15.73 billion, a PE ratio of 3.37 and a beta of 1.21.

Ecopetrol (NYSE:EC) last issued its earnings results on Wednesday, August 14th. The oil and gas company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.15). The firm had revenue of $8.32 billion during the quarter, compared to analyst estimates of $8.49 billion. Ecopetrol had a net margin of 13.92% and a return on equity of 9.42%. Equities research analysts predict that Ecopetrol S.A. will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EC. StockNews.com lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price target on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price target on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $8.50.

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.