Atria Investments Decreases Holdings in Ecopetrol S.A. (NYSE:EC)
In the latest regulatory filing with the SEC, Atria Investments Inc disclosed a 13.2% decrease in its holdings of Ecopetrol S.A. (NYSE: EC) during the third quarter. The company now owns 18,837 shares of the oil and gas giant, representing a market value of $168,000 at the time of filing.
Alongside Atria Investments Inc, several other significant investors have either increased or reduced their positions in Ecopetrol. For instance, Ridgewood Investments LLC acquired 2,697 shares of Ecopetrol during the second quarter, marking an investment of $32,000. Similarly, Blue Trust Inc. saw its stake grow by 258.6%, Cetera Advisors LLC initiated a new position worth approximately $141,000, and Straight Path Wealth Management upped its position by 7.4%.
Ecopetrol’s stock opened on Monday at $8.33, reporting a trading increase of 1.7%. With a market capitalization of $17.13 billion and a price-to-earnings ratio of 3.67, the company has exhibited a 52-week low of $7.21 and a high of $13.14. Additionally, Ecopetrol reported a debt-to-equity ratio of 1.00, a current ratio of 1.48, and a quick ratio of 1.21. Over the past 50 days, the firm had a moving average price of $8.35, while over 200 days, it was $10.06.
Several analyst firms recently shared their insights on Ecopetrol’s performance. StockNews.com upgraded Ecopetrol from a “hold” to a “buy” rating, while The Goldman Sachs Group and JPMorgan Chase & Co. have both reduced their price objectives for Ecopetrol, indicating a “neutral” and an “underweight” rating, respectively. Overall, market analysts present varying views on Ecopetrol, with five firms rating it either as “hold”, “buy”, or “sell”.
Ecopetrol operates as an integrated energy company with a focus on four main segments: Exploration and Production, Transport and Logistics, Refining, Petrochemical and Biofuels, and Electric Power Transmission and Toll Roads Concessions. Through these divisions, Ecopetrol engages in a range of activities from exploration and production of oil and gas to distribution of natural gas and LPG, among others.
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