Ecopetrol (NYSE:EC) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of Ecopetrol (NYSE:EC) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have $14.00 target price on the oil and gas company’s stock, up from their prior target price of $9.00.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $7.50 to $9.50 in a research report on Thursday, February 13th. StockNews.com lowered Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ecopetrol has a consensus rating of “Hold” and a consensus price target of $10.38.

Ecopetrol Trading Up 5.6 %

NYSE EC opened at $10.83 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $12.90. The firm has a market capitalization of $22.25 billion, a PE ratio of 5.18 and a beta of 1.20. The stock’s 50 day moving average is $8.61 and its 200 day moving average is $8.75.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds have recently added to or reduced their stakes in EC. Blue Trust Inc. boosted its holdings in Ecopetrol by 135.5% in the third quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 3,655 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Ecopetrol during the third quarter valued at $228,000. Crossmark Global Holdings Inc. lifted its holdings in shares of Ecopetrol by 1.6% during 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 purchasing an additional 13,707 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Ecopetrol during the third quarter valued at $188,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ecopetrol by 81.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock valued at $3,796,000 after purchasing an additional 190,293 shares in the last quarter.

Ecopetrol Company Profile

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.