Ecopetrol (NYSE:EC) PT Lowered to $9.50 at The Goldman Sachs Group

Ecopetrol (NYSE:EC) had its target price dropped by research analysts at The Goldman Sachs Group from $11.00 to $9.50 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 1.39% from the stock’s current price.

Several other equities analysts have also weighed in on EC. Bank of America lowered shares of Ecopetrol from a “neutral” rating to an “underperform” rating in a report on Thursday, May 30th. StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

Ecopetrol Trading Up 1.2 %

NYSE EC traded up $0.11 during trading hours on Tuesday, reaching $9.37. The company’s stock had a trading volume of 348,616 shares, compared to its average volume of 1,959,465. The stock has a market cap of $19.26 billion, a P/E ratio of 4.08 and a beta of 1.20. Ecopetrol has a 52 week low of $8.67 and a 52 week high of $13.14. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.34. The firm has a fifty day simple moving average of $10.02 and a 200-day simple moving average of $11.07.

Hedge Funds Weigh In On Ecopetrol

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Ecopetrol by 130.9% during the 4th quarter. BNP Paribas Financial Markets now owns 47,883 shares of the oil and gas company’s stock valued at $571,000 after purchasing an additional 27,144 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Ecopetrol during the 4th quarter valued at about $356,000. SPX Gestao de Recursos Ltda purchased a new position in shares of Ecopetrol in the fourth quarter worth $15,652,000. Rathbones Group PLC bought a new position in Ecopetrol during the fourth quarter valued at approximately $195,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Ecopetrol in the fourth quarter worth about $582,000.

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.