Zacks Research Downgrades Ecopetrol (NYSE:EC) to Hold

Ecopetrol (NYSE:EC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Citigroup downgraded shares of Ecopetrol from a “buy” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $18.00 in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. UBS Group increased their price objective on shares of Ecopetrol from $13.50 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Ecopetrol from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, HSBC raised shares of Ecopetrol to a “hold” rating in a research report on Thursday, March 12th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $13.14.

Ecopetrol Price Performance

Shares of NYSE EC opened at $15.51 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93. Ecopetrol has a fifty-two week low of $8.27 and a fifty-two week high of $17.75. The business has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $12.97. The firm has a market cap of $31.89 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.86 and a beta of 0.46.

Ecopetrol (NYSE:EC) last announced its earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. Sell-side analysts expect that Ecopetrol will post 2.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ecopetrol

A number of hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new stake in shares of Ecopetrol during the second quarter worth $25,000. ORG Partners LLC raised its stake in Ecopetrol by 301.3% during the fourth quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,928 shares during the period. Farther Finance Advisors LLC raised its stake in Ecopetrol by 221.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 2,685 shares during the period. Advisory Services Network LLC bought a new position in Ecopetrol in the third quarter worth about $40,000. Finally, Inspire Investing LLC acquired a new position in Ecopetrol in the fourth quarter valued at approximately $88,000.

Ecopetrol Company Profile

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.