Grantham Mayo Van Otterloo & Co. LLC Invests $398,000 in Ecopetrol S.A. $EC

Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Ecopetrol S.A. (NYSE:EC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,200 shares of the oil and gas company’s stock, valued at approximately $398,000.

Several other large investors have also bought and sold shares of EC. R Squared Ltd acquired a new position in Ecopetrol during the third quarter worth about $271,000. Citigroup Inc. boosted its stake in shares of Ecopetrol by 3.0% in the 3rd quarter. Citigroup Inc. now owns 224,071 shares of the oil and gas company’s stock valued at $2,064,000 after purchasing an additional 6,580 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Ecopetrol by 23.6% during the 3rd quarter. Metis Global Partners LLC now owns 14,554 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 2,781 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Ecopetrol by 9.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 241,522 shares of the oil and gas company’s stock valued at $2,224,000 after purchasing an additional 20,478 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Ecopetrol by 31.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,764 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 3,306 shares in the last quarter.

Ecopetrol Stock Performance

NYSE EC opened at $13.56 on Thursday. The company has a market capitalization of $27.87 billion, a price-to-earnings ratio of 11.39 and a beta of 0.64. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.91. Ecopetrol S.A. has a twelve month low of $7.80 and a twelve month high of $13.58. The stock has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $10.37.

Analysts Set New Price Targets

Several brokerages recently commented on EC. The Goldman Sachs Group reissued a “neutral” rating and issued a $8.70 price objective on shares of Ecopetrol in a research note on Monday, December 1st. Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Finally, Bradesco Corretora set a $12.00 price target on Ecopetrol and gave the company an “underperform” rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.35.

Ecopetrol Company Profile

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.