Ecopetrol (NYSE:EC) Raised to “Buy” at StockNews.com

Ecopetrol (NYSE:EC) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

EC has been the subject of several other reports. The Goldman Sachs Group reduced their price target on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

Ecopetrol Trading Down 1.3 %

EC opened at $8.06 on Monday. The firm’s fifty day simple moving average is $8.41 and its 200 day simple moving average is $10.13. The stock has a market capitalization of $16.56 billion, a P/E ratio of 3.55 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $13.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its stake in shares of Ecopetrol by 1.6% in 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 period. Earnest Partners LLC lifted its holdings in shares of Ecopetrol by 1.2% during the first quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company’s stock worth $6,048,000 after purchasing an additional 5,844 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 worth $3,796,000 after purchasing an additional 190,293 shares during the last quarter. American Century Companies Inc. increased its holdings 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 valued at $3,045,000 after purchasing an additional 15,467 shares during the period. Finally, Capital Wealth Planning LLC raised its position in Ecopetrol by 7.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 222,706 shares of the oil and gas company’s stock worth $2,492,000 after purchasing an additional 14,476 shares during the last quarter.

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.