Ecopetrol S.A. (NYSE:EC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Ecopetrol S.A. (NYSE:EC) have received an average rating of “Reduce” from the five ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.5667.

EC has been the subject of several research analyst reports. Weiss Ratings downgraded Ecopetrol from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Bradesco Corretora set a $12.00 price objective on shares of Ecopetrol and gave the company an “underperform” rating in a report on Wednesday, February 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $8.70 target price on shares of Ecopetrol in a research note on Monday, December 1st.

Ecopetrol Stock Performance

Shares of EC stock opened at $11.91 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95. Ecopetrol has a 12-month low of $7.80 and a 12-month high of $13.27. The business’s 50 day moving average is $11.06 and its two-hundred day moving average is $9.89. The company has a market capitalization of $24.47 billion, a P/E ratio of 10.00 and a beta of 0.63.

Institutional Trading of Ecopetrol

Several large investors have recently added to or reduced their stakes in EC. Smartleaf Asset Management LLC acquired a new stake in Ecopetrol during the second quarter worth about $25,000. ORG Partners LLC boosted its position in Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,928 shares during the period. Farther Finance Advisors LLC increased its position in shares of Ecopetrol by 221.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 2,685 shares during the period. Advisory Services Network LLC acquired a new stake in Ecopetrol in the 3rd quarter valued at about $40,000. Finally, Straight Path Wealth Management purchased a new position in Ecopetrol in the third quarter worth approximately $92,000.

About Ecopetrol

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.