Ecopetrol S.A. (EC) Receives Average Rating of “Hold” from Brokerages
Ecopetrol S.A. (NYSE:EC) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.33.
A number of research analysts recently commented on EC shares. HSBC Holdings plc raised shares of Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Monday, June 5th. BidaskClub raised shares of Ecopetrol from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. TheStreet raised shares of Ecopetrol from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Morgan Stanley downgraded shares of Ecopetrol from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $9.40 to $8.00 in a research report on Wednesday, May 31st. Finally, Zacks Investment Research cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th.
A number of hedge funds and other institutional investors have recently bought and sold shares of EC. Nationwide Fund Advisors lifted 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 acquiring an additional 239,200 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ecopetrol by 180,933.3% in the first quarter. Wells Fargo & Company MN now owns 97,758 shares of the oil and gas company’s stock worth $911,000 after buying an additional 97,704 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Ecopetrol in the first quarter worth $143,000. Princeton Alpha Management LP lifted its stake in shares of Ecopetrol by 10.1% in the first quarter. Princeton Alpha Management LP now owns 17,831 shares of the oil and gas company’s stock worth $166,000 after buying an additional 1,634 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of 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 worth $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.
Shares of Ecopetrol (NYSE EC) traded up 1.19% during trading on Wednesday, hitting $9.35. 608,934 shares of the stock were exchanged. Ecopetrol has a 12-month low of $7.65 and a 12-month high of $10.36. The stock’s 50 day moving average is $9.22 and its 200-day moving average is $9.22. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 16.12 and a beta of 1.04.
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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.
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