Ecopetrol S.A. (NYSE:EC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Ecopetrol S.A. (NYSE:EC) have been given an average recommendation of “Reduce” by the six analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $11.22.

EC has been the subject of several research reports. StockNews.com lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Bank of America lowered Ecopetrol from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 30th.

Hedge Funds Weigh In On Ecopetrol

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund purchased a new stake in shares of Ecopetrol in the fourth quarter worth $781,000. Natixis Advisors L.P. bought a new stake in Ecopetrol in the 4th quarter valued at $217,000. Private Advisor Group LLC increased its stake in Ecopetrol by 26.0% in the 4th quarter. Private Advisor Group LLC now owns 26,876 shares of the oil and gas company’s stock worth $320,000 after acquiring an additional 5,544 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Ecopetrol by 130.9% during the 4th quarter. BNP Paribas Financial Markets now owns 47,883 shares of the oil and gas company’s stock worth $571,000 after acquiring an additional 27,144 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Ecopetrol by 548.5% during the 4th quarter. Jump Financial LLC now owns 95,602 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 80,860 shares in the last quarter.

Ecopetrol Trading Up 1.5 %

NYSE EC opened at $8.97 on Friday. The stock has a 50-day moving average of $10.34 and a 200-day moving average of $11.19. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Ecopetrol has a 1-year low of $8.67 and a 1-year high of $13.14. The firm has a market cap of $18.43 billion, a PE ratio of 3.90 and a beta of 1.20.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.