Ecopetrol S.A. (NYSE:EC) Given Average Rating of “Hold” by Brokerages

Shares of Ecopetrol S.A. (NYSE:EC) have earned an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.7333.

Several brokerages have recently issued reports on EC. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $8.70 price target on shares of Ecopetrol in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Ecopetrol in a research note on Monday. Finally, Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th.

Hedge Funds Weigh In On Ecopetrol

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Ecopetrol by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,214,426 shares of the oil and gas company’s stock worth $33,559,000 after purchasing an additional 66,567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ecopetrol by 12.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,087,763 shares of the oil and gas company’s stock valued at $11,356,000 after buying an additional 119,323 shares during the period. Stokes Family Office LLC grew its position in Ecopetrol by 25.2% during the second quarter. Stokes Family Office LLC now owns 212,808 shares of the oil and gas company’s stock worth $1,883,000 after buying an additional 42,819 shares in the last quarter. Graham Capital Management L.P. bought a new position in Ecopetrol during the first quarter valued at about $2,133,000. Finally, Oaktree Capital Management LP raised its holdings in Ecopetrol by 12.3% in the 2nd quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock valued at $31,416,000 after acquiring an additional 387,700 shares in the last quarter.

Ecopetrol Trading Up 1.4%

NYSE:EC opened at $9.62 on Friday. The firm has a market capitalization of $19.77 billion, a PE ratio of 7.34 and a beta of 0.68. Ecopetrol has a 1 year low of $7.48 and a 1 year high of $11.05. The firm’s fifty day simple moving average is $9.65 and its 200 day simple moving average is $9.26.

Ecopetrol Company Profile

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.