Ecopetrol (NYSE:EC) Reaches New 12-Month Low – What’s Next?

Ecopetrol S.A. (NYSE:EC) shares hit a new 52-week low on Tuesday . The stock traded as low as $7.59 and last traded at $7.61, with a volume of 65610 shares. The stock had previously closed at $7.61.

Wall Street Analyst Weigh In

EC has been the subject of a number of research reports. StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group reduced their price objective on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $8.50.

Ecopetrol Trading Up 0.1 %

The firm has a fifty day moving average of $8.72 and a 200-day moving average of $10.39. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 3.33 and a beta of 1.21.

Ecopetrol (NYSE:EC) last issued its earnings results on Wednesday, August 14th. The oil and gas company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.15). The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Ecopetrol had a return on equity of 9.42% and a net margin of 13.92%. As a group, equities analysts predict that Ecopetrol S.A. will post 2 earnings per share for the current fiscal year.

Institutional Trading of Ecopetrol

A number of hedge funds have recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of Ecopetrol in the third quarter valued at $188,000. Crossmark Global Holdings Inc. lifted its holdings in Ecopetrol by 1.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock worth $7,924,000 after buying an additional 13,707 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Ecopetrol in the 3rd quarter valued at about $228,000. Glenorchy Capital Ltd grew its stake in shares of Ecopetrol by 16.5% during the third quarter. Glenorchy Capital Ltd now owns 53,583 shares of the oil and gas company’s stock valued at $479,000 after acquiring an additional 7,584 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Ecopetrol by 135.5% during the third quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 3,655 shares during the last quarter.

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.