Ecopetrol S.A. (NYSE:EC) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also issued reports on EC. BidaskClub lowered Ecopetrol from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet upgraded Ecopetrol from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Scotiabank lowered Ecopetrol from an “outperform” rating to a “sector perform” rating in a research note on Thursday, June 29th. Finally, HSBC Holdings plc upgraded Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.25.

Shares of Ecopetrol (NYSE:EC) traded down 0.55% during midday trading on Tuesday, reaching $9.10. The company’s stock had a trading volume of 693,644 shares. Ecopetrol has a 12 month low of $7.65 and a 12 month high of $10.36. The stock has a market capitalization of $18.71 billion, a P/E ratio of 18.96 and a beta of 1.05. The stock’s 50-day moving average is $9.08 and its 200 day moving average is $9.27.

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Several large investors have recently added to or reduced their stakes in EC. Renaissance Technologies LLC raised its stake in Ecopetrol by 10.7% in the first quarter. Renaissance Technologies LLC now owns 5,375,600 shares of the oil and gas company’s stock valued at $50,101,000 after buying an additional 520,300 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Ecopetrol by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 3,970,350 shares of the oil and gas company’s stock valued at $37,003,000 after buying an additional 47,901 shares in the last quarter. Vanguard Group Inc. raised its stake in Ecopetrol by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,143,927 shares of the oil and gas company’s stock valued at $29,301,000 after buying an additional 166,225 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Ecopetrol by 4.7% in the first quarter. Parametric Portfolio Associates LLC now owns 1,844,893 shares of the oil and gas company’s stock valued at $17,194,000 after buying an additional 82,540 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Ecopetrol by 3.1% in the first quarter. Legal & General Group Plc now owns 1,059,765 shares of the oil and gas company’s stock valued at $9,888,000 after buying an additional 32,000 shares in the last quarter. Institutional investors own 2.22% of the company’s stock.

About Ecopetrol

Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ecopetrol (NYSE:EC)

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