Brokerages Set Ecopetrol S.A. (NYSE:EC) Target Price at $11.57

Ecopetrol S.A. (NYSE:EC) has received a consensus recommendation of “Reduce” from the four analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.35.

Several analysts recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $8.70 price target on shares of Ecopetrol in a research note on Monday, December 1st. Bradesco Corretora set a $12.00 target price on shares of Ecopetrol and gave the company an “underperform” rating in a research report on Wednesday, February 4th. Weiss Ratings upgraded shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th.

Ecopetrol Trading Down 0.8%

Shares of EC stock opened at $12.49 on Friday. Ecopetrol has a 12-month low of $7.80 and a 12-month high of $13.27. The company has a market capitalization of $25.67 billion, a PE ratio of 10.49 and a beta of 0.63. The firm has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $10.02. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.

Institutional Investors Weigh In On Ecopetrol

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH acquired a new stake in Ecopetrol during the second quarter worth approximately $3,997,000. MQS Management LLC acquired a new stake in shares of Ecopetrol during the 2nd quarter worth $136,000. Envestnet Asset Management Inc. bought a new position in shares of Ecopetrol in the second quarter worth $93,000. Y Intercept Hong Kong Ltd bought a new position in shares of Ecopetrol in the second quarter worth $2,236,000. Finally, Hantz Financial Services Inc. raised its stake in Ecopetrol by 1,482.5% in the second quarter. Hantz Financial Services Inc. now owns 28,152 shares of the oil and gas company’s stock valued at $249,000 after purchasing an additional 26,373 shares in the last quarter.

About Ecopetrol

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.