Ecopetrol S.A. (EC) Downgraded to “Strong Sell” at BidaskClub

Ecopetrol S.A. (NYSE:EC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, July 28th.

Other equities analysts have also issued reports about the company. Scotiabank lowered Ecopetrol from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 29th. Zacks Investment Research lowered Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Morgan Stanley lowered Ecopetrol from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $9.40 to $8.00 in a research note on Wednesday, May 31st. TheStreet raised Ecopetrol from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Finally, HSBC Holdings plc raised Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Ecopetrol presently has a consensus rating of “Hold” and an average price target of $10.25.

Shares of Ecopetrol (EC) opened at 9.08 on Friday. The firm’s 50-day moving average is $9.14 and its 200-day moving average is $9.25. The stock has a market capitalization of $18.67 billion, a price-to-earnings ratio of 16.21 and a beta of 1.05. Ecopetrol has a 52 week low of $7.65 and a 52 week high of $10.36.

COPYRIGHT VIOLATION WARNING: This article was reported by BBNS and is the sole property of of BBNS. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://baseballnewssource.com/markets/ecopetrol-s-a-ec-rating-lowered-to-strong-sell-at-bidaskclub-updated-updated/1313397.html.

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA raised its position in Ecopetrol by 280.0% in the fourth quarter. Federated Investors Inc. PA now owns 15,200 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 11,200 shares during the period. Envestnet Asset Management Inc. raised its position in Ecopetrol by 20.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,222 shares of the oil and gas company’s stock valued at $119,000 after buying an additional 2,214 shares during the period. Fox Run Management L.L.C. bought a new position in Ecopetrol during the first quarter valued at approximately $152,000. Nationwide Fund Advisors increased its stake in Ecopetrol by 145.7% in the first quarter. Nationwide Fund Advisors now owns 403,400 shares of the oil and gas company’s stock valued at $3,760,000 after buying an additional 239,200 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Ecopetrol by 53.6% in the first quarter. Acadian Asset Management LLC now owns 468,837 shares of the oil and gas company’s stock valued at $4,369,000 after buying an additional 163,561 shares in the last quarter. 2.20% of the stock is currently owned by hedge funds and other institutional investors.

About Ecopetrol

Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.

Analyst Recommendations for Ecopetrol (NYSE:EC)

Receive News & Ratings for Ecopetrol S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol S.A. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.