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Equities researchers at Santander reduced their price objective on shares of Ecopetrol S.A. (NYSE:EC) from $44.50 to $39.00 in a research report issued on Friday. Santander’s target price points to a potential upside of 16.94% from the company’s current price.

Shares of Ecopetrol S.A. (NYSE:EC) traded down 1.16% during mid-day trading on Friday, hitting $33.35. 903,083 shares of the company’s stock traded hands. Ecopetrol S.A. has a 52 week low of $33.01 and a 52 week high of $49.45. The stock has a 50-day moving average of $35.7 and a 200-day moving average of $36.54. The company has a market cap of $68.562 billion and a price-to-earnings ratio of 9.98.

A number of other firms have also recently commented on EC. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ecopetrol S.A. in a research note on Thursday, July 24th. They now have a $41.00 price target on the stock, down previously from $42.00. Separately, analysts at Citigroup Inc. upgraded shares of Ecopetrol S.A. from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 16th. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Ecopetrol S.A. in a research note on Monday, July 14th. They now have a $41.00 price target on the stock, down previously from $45.00. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.25.

Ecopetrol SA is a Colombia-based holding company engaged in the development of commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage and distribution of hydrocarbons and its by-products.

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