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

Shares of Ecopetrol S.A. (NYSE:EC) have been given an average recommendation of “Reduce” by the five research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.35.

Several research firms have recently commented on EC. Bradesco Corretora set a $12.00 price target on shares of Ecopetrol and gave the company an “underperform” rating in a research report on Wednesday, February 4th. Weiss Ratings raised Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $8.70 target price on shares of Ecopetrol in a research report on Monday, December 1st. HSBC raised Ecopetrol to a “hold” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen raised Ecopetrol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th.

Institutional Investors Weigh In On Ecopetrol

A number of institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP increased 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 purchasing an additional 387,700 shares during the last quarter. Fundamenta Capital S.A. acquired a new position in Ecopetrol during the fourth quarter worth $20,135,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ecopetrol by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock worth $14,107,000 after buying an additional 41,075 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $10,534,000 after buying an additional 102,505 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Ecopetrol by 7.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock valued at $9,375,000 after buying an additional 64,614 shares in the last quarter.

Ecopetrol Stock Down 0.5%

Shares of NYSE:EC opened at $14.66 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $12.43 and a two-hundred day moving average of $10.54. The stock has a market cap of $30.13 billion, a P/E ratio of 12.32 and a beta of 0.64. Ecopetrol has a 52-week low of $7.80 and a 52-week high of $14.92.

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.