Ecopetrol (NYSE:EC) Cut to Hold at StockNews.com

StockNews.com cut shares of Ecopetrol (NYSE:EC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, Ecopetrol currently has an average rating of “Reduce” and an average price target of $8.50.

Ecopetrol Stock Up 0.8 %

NYSE EC opened at $8.04 on Tuesday. Ecopetrol has a 52 week low of $7.21 and a 52 week high of $13.14. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $16.53 billion, a P/E ratio of 3.54 and a beta of 1.21. The stock’s 50-day moving average price is $8.26 and its 200-day moving average price is $9.98.

Hedge Funds Weigh In On Ecopetrol

Hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. boosted its stake in Ecopetrol by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock valued at $7,924,000 after buying an additional 13,707 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ecopetrol by 81.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock valued at $3,796,000 after purchasing an additional 190,293 shares in the last quarter. American Century Companies Inc. increased its position in Ecopetrol by 6.0% in the second quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company’s stock worth $3,045,000 after purchasing an additional 15,467 shares during the last quarter. Capital Wealth Planning LLC raised its stake in Ecopetrol by 7.0% during the second quarter. Capital Wealth Planning LLC now owns 222,706 shares of the oil and gas company’s stock valued at $2,492,000 after purchasing an additional 14,476 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Ecopetrol during the second quarter valued at $1,890,000.

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.