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Ecopetrol (NYSE:EC) was upgraded by investment analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday.

Ecopetrol (NYSE:EC) traded up 1.68% on Wednesday, hitting $35.04. 67,750 shares of the company’s stock traded hands. Ecopetrol has a 1-year low of $33.01 and a 1-year high of $49.45. The stock’s 50-day moving average is $36.56 and its 200-day moving average is $36.71. The company has a market cap of $72.036 billion and a price-to-earnings ratio of 10.20.

Ecopetrol (NYSE:EC) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.81 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.81. Analysts expect that Ecopetrol will post $3.23 EPS for the current fiscal year.

A number of other firms have also recently commented on EC. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Ecopetrol in a research note on Monday. They now have a $41.00 price target on the stock, down previously from $45.00. Separately, analysts at Zacks upgraded shares of Ecopetrol from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $37.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Ecopetrol in a research note on Friday, June 27th. They set an “underweight” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.67.

Ecopetrol SA (NYSE:EC) is a vertically integrated oil company operating in Colombia and overseas.

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