HSBC Upgrades Ecopetrol (NYSE:EC) to “Buy”

Ecopetrol (NYSE:EC) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, The Fly reports.

Shares of EC opened at $17.09 on Thursday. The company has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $18.63. The firm has a market capitalization of $35.26 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.96 and a current ratio of 1.26. Ecopetrol has a 52 week low of $15.21 and a 52 week high of $27.96.

A number of large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in shares of Ecopetrol by 116.6% during the first quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 708 shares during the last quarter. Enlightenment Research LLC bought a new stake in shares of Ecopetrol during the fourth quarter valued at approximately $27,000. Financial Gravity Companies Inc. bought a new stake in shares of Ecopetrol during the fourth quarter valued at approximately $36,000. We Are One Seven LLC bought a new stake in shares of Ecopetrol during the fourth quarter valued at approximately $31,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Ecopetrol during the second quarter valued at approximately $48,000. 2.63% of the stock is owned by hedge funds and other institutional investors.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Analyst Recommendations for Ecopetrol (NYSE:EC)

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