Ecopetrol S.A. Downgraded by TheStreet to “Hold” (EC)
Ecopetrol S.A. (NYSE:EC) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Analyst Ratings News reports.
The analysts wrote, “Ecopetrol S.A (EC) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.”
A number of other firms have also recently commented on EC. Analysts at Raymond James initiated coverage on shares of Ecopetrol S.A. in a research note to investors on Tuesday. They set an “outperform” rating and a $40.00 price target on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Ecopetrol S.A. from a “neutral” rating to a “sell” rating in a research note to investors on Monday, December 16th. Finally, analysts at Jefferson Research upgraded shares of Ecopetrol S.A. from a “hold” rating to a “buy” rating in a research note to investors on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $45.83.
Ecopetrol SA (NYSE:EC) is a vertically integrated oil company operating in Colombia and overseas.
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