Ecopetrol (NYSE:EC) Upgraded by StockNews.com to Buy Rating

Ecopetrol (NYSE:EC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other equities research analysts have also issued reports on EC. The Goldman Sachs Group lowered their price objective on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price target on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.

Ecopetrol Price Performance

Ecopetrol stock traded up $0.24 during midday trading on Monday, reaching $8.17. 5,213,218 shares of the stock traded hands, compared to its average volume of 2,119,778. The stock’s fifty day moving average is $8.42 and its 200-day moving average is $10.16. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $13.14. The stock has a market cap of $16.79 billion, a P/E ratio of 3.60 and a beta of 1.21. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EC. Ridgewood Investments LLC purchased a new stake in shares of Ecopetrol during the second quarter worth $27,000. Blue Trust Inc. increased its holdings in Ecopetrol by 258.6% in the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,945 shares during the last quarter. GAMMA Investing LLC increased its holdings in Ecopetrol by 58.2% in the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,355 shares during the last quarter. MQS Management LLC purchased a new position in Ecopetrol in the first quarter valued at $125,000. Finally, Cetera Advisors LLC purchased a new position in Ecopetrol in the first quarter valued at $141,000.

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.