Ecopetrol (NYSE:EC) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Ecopetrol S.A. (NYSE:EC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.23 and traded as high as $9.56. Ecopetrol shares last traded at $9.3450, with a volume of 3,280,721 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ecopetrol in a research note on Monday. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $8.70 target price on shares of Ecopetrol in a research report on Monday, December 1st. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.73.

Ecopetrol Stock Performance

The business has a fifty day simple moving average of $9.59 and a 200 day simple moving average of $9.23. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 7.13 and a beta of 0.68.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC acquired a new stake in shares of Ecopetrol during the 2nd quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in Ecopetrol during the third quarter worth approximately $40,000. Straight Path Wealth Management purchased a new stake in Ecopetrol in the 3rd quarter worth approximately $92,000. Envestnet Asset Management Inc. acquired a new position in Ecopetrol in the 2nd quarter valued at $93,000. Finally, Metis Global Partners LLC purchased a new position in shares of Ecopetrol during the 2nd quarter worth $104,000.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.