Ecopetrol (NYSE:EC) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Ecopetrol S.A. (NYSE:EC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.40 and traded as high as $15.42. Ecopetrol shares last traded at $15.3780, with a volume of 2,895,121 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EC shares. Citigroup cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. HSBC upgraded shares of Ecopetrol to a “hold” rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Ecopetrol from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings upgraded Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ecopetrol has an average rating of “Reduce” and an average price target of $13.14.

Ecopetrol Stock Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.30 and a current ratio of 1.55. The stock has a market cap of $31.61 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.45. The company’s 50 day moving average price is $14.71 and its 200-day moving average price is $13.40.

Ecopetrol (NYSE:EC) last announced its earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 EPS for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. Equities analysts forecast that Ecopetrol S.A. will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecopetrol

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC bought a new position in shares of Ecopetrol in the second quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings 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 boosted its position in Ecopetrol by 221.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 2,685 shares during the last quarter. Advisory Services Network LLC purchased a new position in Ecopetrol in the third quarter worth $40,000. Finally, Inspire Investing LLC purchased a new position in Ecopetrol in the fourth quarter worth $88,000.

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.