Ecopetrol SA (NYSE:EC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Ecopetrol SA (NYSE:EC) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.40.

EC has been the subject of a number of analyst reports. Citigroup raised shares of Ecopetrol from a “neutral” rating to a “buy” rating in a research report on Friday, July 17th. Zacks Investment Research raised Ecopetrol from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday.

NYSE EC opened at $11.64 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.72. Ecopetrol has a fifty-two week low of $6.28 and a fifty-two week high of $20.95. The business has a fifty day moving average of $11.58 and a 200-day moving average of $13.21. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 7.05 and a beta of 1.87.

Ecopetrol (NYSE:EC) last posted its quarterly earnings data on Monday, May 11th. The oil and gas company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Ecopetrol had a return on equity of 11.24% and a net margin of 17.10%. As a group, analysts anticipate that Ecopetrol will post 0.34 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in EC. APG Asset Management N.V. raised its stake in Ecopetrol by 74.7% during the first quarter. APG Asset Management N.V. now owns 1,836,800 shares of the oil and gas company’s stock worth $35,072,000 after purchasing an additional 785,600 shares during the period. Luminus Management LLC acquired a new stake in shares of Ecopetrol during the 1st quarter worth $6,470,000. Aperio Group LLC raised its position in shares of Ecopetrol by 57.8% in the 1st quarter. Aperio Group LLC now owns 713,827 shares of the oil and gas company’s stock worth $6,788,000 after buying an additional 261,606 shares during the period. Citigroup Inc. boosted its holdings in Ecopetrol by 1,280.7% in the first quarter. Citigroup Inc. now owns 249,099 shares of the oil and gas company’s stock valued at $2,369,000 after acquiring an additional 231,058 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Ecopetrol by 352.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 268,702 shares of the oil and gas company’s stock valued at $2,555,000 after acquiring an additional 209,357 shares during the period. Hedge funds and other institutional investors own 2.21% of the company’s stock.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Analyst Recommendations for Ecopetrol (NYSE:EC)

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