BidaskClub upgraded shares of Ecopetrol S.A. (NYSE:EC) from a strong sell rating to a sell rating in a research note released on Saturday morning.

Several other brokerages also recently issued reports on EC. TheStreet raised Ecopetrol from a d+ rating to a c rating in a report on Wednesday, May 17th. Morgan Stanley downgraded Ecopetrol from an overweight rating to an equal weight rating and cut their price target for the company from $9.40 to $8.00 in a report on Wednesday, May 31st. Zacks Investment Research raised Ecopetrol from a strong sell rating to a hold rating in a report on Monday, May 8th. ValuEngine raised Ecopetrol from a hold rating to a buy rating in a report on Wednesday, August 2nd. Finally, HSBC Holdings plc raised Ecopetrol from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average target price of $10.25.

Shares of Ecopetrol (NYSE EC) opened at 9.09 on Friday. Ecopetrol has a 12-month low of $7.65 and a 12-month high of $10.36. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 16.23 and a beta of 1.05. The company’s 50-day moving average is $9.17 and its 200-day moving average is $9.23.

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A number of hedge funds and other institutional investors have recently bought and sold shares of EC. Sei Investments Co. boosted its position in Ecopetrol by 640.6% in the first quarter. Sei Investments Co. now owns 64,056 shares of the oil and gas company’s stock valued at $597,000 after buying an additional 55,407 shares during the last quarter. Karp Capital Management Corp purchased a new position in Ecopetrol during the first quarter valued at $2,159,000. World Asset Management Inc boosted its position in Ecopetrol by 1.5% in the first quarter. World Asset Management Inc now owns 128,100 shares of the oil and gas company’s stock valued at $1,194,000 after buying an additional 1,843 shares during the last quarter. Comerica Bank boosted its position in Ecopetrol by 1.3% in the first quarter. Comerica Bank now owns 118,064 shares of the oil and gas company’s stock valued at $1,070,000 after buying an additional 1,531 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Ecopetrol by 7,112.5% in the first quarter. BNP Paribas Arbitrage SA now owns 71,404 shares of the oil and gas company’s stock valued at $665,000 after buying an additional 70,414 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Ecopetrol Company Profile

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)

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