Ecopetrol (NYSE:EC) Rating Increased to Buy at StockNews.com

Ecopetrol (NYSE:EC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other brokerages have also issued reports on EC. JPMorgan Chase & Co. cut their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.50.

Ecopetrol Trading Down 1.3 %

Shares of EC stock opened at $8.06 on Monday. Ecopetrol has a fifty-two week low of $7.21 and a fifty-two week high of $13.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. The stock has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $10.13. The company has a market cap of $16.56 billion, a P/E ratio of 3.55 and a beta of 1.21.

Institutional Investors Weigh In On Ecopetrol

Several institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. boosted its holdings in Ecopetrol by 1.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 887,424 shares of the oil and gas company’s stock worth $7,924,000 after acquiring an additional 13,707 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Ecopetrol by 1.2% during the first quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company’s stock valued at $6,048,000 after purchasing an additional 5,844 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ecopetrol by 81.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock worth $3,796,000 after purchasing an additional 190,293 shares during the last quarter. American Century Companies Inc. grew its position in Ecopetrol by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company’s stock worth $3,045,000 after purchasing an additional 15,467 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its stake in Ecopetrol by 7.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 222,706 shares of the oil and gas company’s stock valued at $2,492,000 after buying an additional 14,476 shares during the last quarter.

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.