Ecopetrol Rating Lowered to Sell at Citigroup Inc. (EC)
Ecopetrol (NYSE:EC) was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, AnalystRatings.NET reports. They currently have a $37.00 target price on the stock. Citigroup Inc.’s target price points to a potential downside of 10.00% from the stock’s previous close.
Shares of Ecopetrol (NYSE:EC) traded down 2.43% during mid-day trading on Wednesday, hitting $40.16. 173,356 shares of the company’s stock traded hands. Ecopetrol has a 52 week low of $33.01 and a 52 week high of $49.45. The stock’s 50-day moving average is $37.68 and its 200-day moving average is $39.99. The company has a market cap of $82.562 billion and a P/E ratio of 11.63.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Ecopetrol from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 18th. They now have a $33.70 price target on the stock. Separately, analysts at TheStreet downgraded shares of Ecopetrol to a “hold” rating in a research note on Wednesday, February 12th. Finally, analysts at TheStreet downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.14.
Ecopetrol SA (NYSE:EC) is a vertically integrated oil company operating in Colombia and overseas.
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