Ecopetrol (NYSE:EC) Sets New 52-Week High – What’s Next?

Ecopetrol S.A. (NYSE:EC) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.36 and last traded at $12.3250, with a volume of 406616 shares changing hands. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EC. The Goldman Sachs Group reiterated a “neutral” rating and set a $8.70 price objective on shares of Ecopetrol in a research report on Monday, December 1st. Zacks Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.73.

Ecopetrol Stock Up 2.3%

The stock has a 50-day moving average of $10.28 and a 200 day moving average of $9.48. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $26.40 billion, a PE ratio of 10.79 and a beta of 0.65.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC purchased a new stake in Ecopetrol in the second quarter valued at approximately $25,000. ORG Partners LLC lifted its stake in shares of Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,928 shares during the period. Advisory Services Network LLC bought a new stake in shares of Ecopetrol during the 3rd quarter valued at $40,000. Straight Path Wealth Management purchased a new stake in Ecopetrol in the third quarter worth about $92,000. Finally, Envestnet Asset Management Inc. purchased a new position in Ecopetrol during the second quarter valued at $93,000.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.