Ecopetrol Sees Unusually Large Options Volume (NYSE:EC)

Ecopetrol S.A. (NYSE:EC) was the target of some unusual options trading activity on Monday. Stock traders acquired 24,709 call options on the company. This represents an increase of 1,585% compared to the average daily volume of 1,466 call options.

Ecopetrol Price Performance

Shares of NYSE EC opened at $12.43 on Wednesday. The firm has a market capitalization of $25.54 billion, a P/E ratio of 10.44 and a beta of 0.63. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $11.42 and its two-hundred day simple moving average is $10.10. Ecopetrol has a twelve month low of $7.80 and a twelve month high of $13.27.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the company an “underperform” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $8.70 target price on shares of Ecopetrol in a research note on Monday, December 1st. Finally, Zacks Research upgraded Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $10.35.

Institutional Investors Weigh In On Ecopetrol

Hedge funds have recently bought and sold shares of the stock. Oaktree Capital Management LP increased its holdings in shares of 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 worth $31,416,000 after buying an additional 387,700 shares during the last quarter. Fundamenta Capital S.A. purchased a new position in Ecopetrol in the fourth quarter worth $20,135,000. Charles Schwab Investment Management Inc. increased its stake in Ecopetrol by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock valued at $14,107,000 after acquiring an additional 41,075 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ecopetrol by 9.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock valued at $10,534,000 after purchasing an additional 102,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Ecopetrol by 7.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock worth $9,375,000 after purchasing an additional 64,614 shares during the last quarter.

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.