Ecopetrol S.A. (NYSE:EC) Receives Average Recommendation of “Reduce” from Brokerages

Ecopetrol S.A. (NYSE:EC) has earned a consensus rating of “Reduce” from the four research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.17.

Several brokerages have recently weighed in on EC. StockNews.com cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $7.50 to $9.50 in a research note on Thursday, February 13th. Finally, Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $14.00 in a research note on Tuesday.

Institutional Trading of Ecopetrol

A number of institutional investors and hedge funds have recently bought and sold shares of EC. Blue Trust Inc. increased its holdings in Ecopetrol by 135.5% in the 3rd quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 3,655 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Ecopetrol in the 3rd quarter worth about $228,000. Crossmark Global Holdings Inc. increased its holdings in shares of Ecopetrol by 1.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock worth $7,924,000 after buying an additional 13,707 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Ecopetrol in the 3rd quarter worth about $188,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ecopetrol by 81.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock worth $3,796,000 after buying an additional 190,293 shares during the last quarter.

Ecopetrol Trading Up 0.3 %

Shares of Ecopetrol stock opened at $10.26 on Tuesday. The company’s fifty day simple moving average is $8.61 and its 200-day simple moving average is $8.75. The stock has a market capitalization of $21.08 billion, a PE ratio of 4.91 and a beta of 1.20. Ecopetrol has a 1-year low of $7.21 and a 1-year high of $12.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 1.38.

About Ecopetrol

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.