Dorsey Wright & Associates Decreases Stake in Ecopetrol SA (EC)

Dorsey Wright & Associates lessened its holdings in shares of Ecopetrol SA (NYSE:EC) by 33.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 426,254 shares of the oil and gas company’s stock after selling 215,794 shares during the period. Ecopetrol accounts for about 2.1% of Dorsey Wright & Associates’ portfolio, making the stock its 4th largest position. Dorsey Wright & Associates’ holdings in Ecopetrol were worth $11,479,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in Ecopetrol by 54.4% in the second quarter. Acadian Asset Management LLC now owns 9,879,374 shares of the oil and gas company’s stock valued at $203,014,000 after acquiring an additional 3,479,971 shares during the last quarter. Fisher Asset Management LLC bought a new position in Ecopetrol in the second quarter valued at about $15,187,000. Deprince Race & Zollo Inc. bought a new position in Ecopetrol in the second quarter valued at about $3,220,000. Navellier & Associates Inc boosted its holdings in Ecopetrol by 136.8% in the second quarter. Navellier & Associates Inc now owns 270,876 shares of the oil and gas company’s stock valued at $5,567,000 after acquiring an additional 156,506 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in Ecopetrol by 196.8% in the second quarter. OMERS ADMINISTRATION Corp now owns 233,600 shares of the oil and gas company’s stock valued at $4,800,000 after acquiring an additional 154,900 shares during the last quarter. Institutional investors own 2.85% of the company’s stock.

EC traded up $0.35 during midday trading on Friday, reaching $25.50. 1,197,800 shares of the company were exchanged, compared to its average volume of 1,392,828. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. Ecopetrol SA has a one year low of $9.65 and a one year high of $27.96. The stock has a market cap of $55.36 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.26.

Ecopetrol (NYSE:EC) last issued its earnings results on Tuesday, August 14th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Ecopetrol had a return on equity of 11.69% and a net margin of 17.52%. The firm had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.99 billion. As a group, equities analysts forecast that Ecopetrol SA will post 2.08 EPS for the current year.

A number of brokerages have issued reports on EC. Zacks Investment Research cut Ecopetrol from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine cut Ecopetrol from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Citigroup upgraded Ecopetrol from a “sell” rating to a “neutral” rating in a report on Thursday, August 2nd. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Ecopetrol currently has a consensus rating of “Hold” and an average price target of $16.00.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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