Ecopetrol (NYSE:EC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Ecopetrol S.A. (NYSE:EC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.23 and traded as high as $11.84. Ecopetrol shares last traded at $11.66, with a volume of 2,155,983 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EC. Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the stock an “underperform” rating in a research report on Wednesday, February 4th. Weiss Ratings upgraded Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 price target on shares of Ecopetrol in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $10.35.

Ecopetrol Price Performance

The business has a fifty day moving average of $11.80 and a two-hundred day moving average of $10.24. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 10.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.26 and a current ratio of 1.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its holdings in shares of Ecopetrol by 1,083.8% during the fourth quarter. XTX Topco Ltd now owns 127,910 shares of the oil and gas company’s stock worth $1,282,000 after buying an additional 117,105 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Ecopetrol by 91.4% in the 4th quarter. Voloridge Investment Management LLC now owns 236,586 shares of the oil and gas company’s stock valued at $2,371,000 after purchasing an additional 112,953 shares during the period. Inspire Investing LLC acquired a new position in shares of Ecopetrol during the 4th quarter worth approximately $88,000. Engineers Gate Manager LP increased its holdings in shares of Ecopetrol by 43.9% during the fourth quarter. Engineers Gate Manager LP now owns 124,309 shares of the oil and gas company’s stock worth $1,246,000 after purchasing an additional 37,943 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Ecopetrol during the fourth quarter worth approximately $229,000.

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.