Ecopetrol (NYSE:EC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ecopetrol (NYSE:EC) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

EC has been the topic of a number of other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 price objective on shares of Ecopetrol in a report on Monday, December 1st. Bradesco Corretora set a $12.00 target price on shares of Ecopetrol and gave the company an “underperform” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ecopetrol has an average rating of “Reduce” and a consensus price target of $10.35.

Ecopetrol Stock Up 1.9%

Shares of NYSE:EC opened at $14.12 on Friday. The business’s 50 day moving average is $12.27 and its 200 day moving average is $10.48. Ecopetrol has a 12-month low of $7.80 and a 12-month high of $14.29. The stock has a market cap of $29.02 billion, a price-to-earnings ratio of 11.86 and a beta of 0.64. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.91.

Hedge Funds Weigh In On Ecopetrol

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC purchased a new stake in shares of Ecopetrol during the 2nd quarter valued at approximately $25,000. ORG Partners LLC boosted its holdings in Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,928 shares during the period. Farther Finance Advisors LLC grew its stake in Ecopetrol by 221.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 2,685 shares in the last quarter. Advisory Services Network LLC purchased a new position in Ecopetrol in the 3rd quarter valued at approximately $40,000. Finally, Inspire Investing LLC bought a new stake in Ecopetrol during the 4th quarter valued at $88,000.

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.