Ecopetrol (NYSE:EC) Downgraded by Wall Street Zen to “Hold”

Ecopetrol (NYSE:EC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also issued reports on EC. UBS Group boosted their price target on shares of Ecopetrol from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Citigroup lowered shares of Ecopetrol from a “buy” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $18.00 in a research report on Wednesday, June 3rd. Zacks Research cut shares of Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.14.

Ecopetrol Stock Performance

Ecopetrol stock traded up $0.21 during trading hours on Friday, hitting $15.60. The stock had a trading volume of 2,766,087 shares, compared to its average volume of 2,990,687. The company has a 50-day moving average of $14.75 and a two-hundred day moving average of $13.41. 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 company has a market cap of $32.07 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.66 and a beta of 0.45.

Ecopetrol (NYSE:EC) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. On average, equities research analysts anticipate that Ecopetrol will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecopetrol

Several large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new stake in shares of Ecopetrol during the 2nd quarter worth about $25,000. ORG Partners LLC grew 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 buying an additional 1,928 shares during the last quarter. Farther Finance Advisors LLC grew 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 buying an additional 2,685 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ecopetrol during the third quarter worth approximately $40,000. Finally, Ramsey Quantitative Systems bought a new position in shares of Ecopetrol in the second quarter valued at approximately $58,000.

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.