Brooklyn Investment Group Acquires 12,898 Shares of Ecopetrol S.A. $EC

Brooklyn Investment Group increased its holdings in shares of Ecopetrol S.A. (NYSE:EC) by 576.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,135 shares of the oil and gas company’s stock after acquiring an additional 12,898 shares during the period. Brooklyn Investment Group’s holdings in Ecopetrol were worth $158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blume Capital Management Inc. bought a new position in shares of Ecopetrol in the first quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ecopetrol in the first quarter worth approximately $46,000. Avantax Advisory Services Inc. bought a new position in shares of Ecopetrol in the first quarter worth approximately $106,000. Sowell Financial Services LLC bought a new position in shares of Ecopetrol in the first quarter worth approximately $116,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Ecopetrol in the fourth quarter worth approximately $97,000.

Ecopetrol Stock Up 0.3%

EC opened at $8.9250 on Thursday. The firm has a 50 day moving average price of $8.95 and a 200-day moving average price of $9.17. Ecopetrol S.A. has a twelve month low of $7.21 and a twelve month high of $11.05. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 5.87 and a beta of 0.83.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

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.