Ecopetrol S.A. (EC) Cut to Hold at Zacks Investment Research
Ecopetrol S.A. (NYSE:EC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “ECOPETROL S.A. is a Colombia-based petroleum company. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia, as well as in other areas in Colombia and northern Peru. The Company’s operation includes the extraction, collection, treatment, storage and pumping or compression of hydrocarbons. Ecopetrol has four management divisions to handle the operation of 163 production fields. Ecopetrol’s production is concentrated in the upper, middle and lower Magdalena, the Eastern Plans and the Caribbean, and the provinces of Putumayo, Cesar and Norte de Santander. “
Other research analysts also recently issued reports about the company. ValuEngine raised Ecopetrol from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. downgraded Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday. J P Morgan Chase & Co raised Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Wednesday, October 25th. Finally, BidaskClub raised Ecopetrol from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.20.
COPYRIGHT VIOLATION WARNING: “Ecopetrol S.A. (EC) Cut to Hold at Zacks Investment Research” was posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/11/15/ecopetrol-s-a-ec-cut-to-hold-at-zacks-investment-research.html.
A number of large investors have recently bought and sold shares of EC. Ameriprise Financial Inc. lifted its holdings in Ecopetrol by 48.4% during the 1st quarter. Ameriprise Financial Inc. now owns 16,332 shares of the oil and gas company’s stock worth $152,000 after buying an additional 5,330 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Ecopetrol by 25.1% during the 1st quarter. Alliancebernstein L.P. now owns 17,656 shares of the oil and gas company’s stock worth $165,000 after buying an additional 3,537 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ecopetrol by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 3,143,927 shares of the oil and gas company’s stock worth $29,301,000 after buying an additional 166,225 shares in the last quarter. Morgan Stanley lifted its holdings in Ecopetrol by 67.3% during the 1st quarter. Morgan Stanley now owns 588,394 shares of the oil and gas company’s stock worth $5,482,000 after buying an additional 236,599 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new position in Ecopetrol during the 1st quarter worth $129,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.
Ecopetrol Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ecopetrol S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol S.A. and related companies with MarketBeat.com's FREE daily email newsletter.