Ecopetrol (NYSE:EC) Stock Rating Lowered by StockNews.com

Ecopetrol (NYSE:EC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other research firms have also recently issued reports on EC. The Goldman Sachs Group decreased their price target on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. reduced 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. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, Ecopetrol currently has an average rating of “Reduce” and a consensus target price of $8.50.

Ecopetrol Stock Up 0.8 %

NYSE:EC opened at $8.04 on Tuesday. The company has a market cap of $16.53 billion, a price-to-earnings ratio of 3.54 and a beta of 1.21. 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’s fifty day moving average price is $8.28 and its two-hundred day moving average price is $9.99. Ecopetrol has a 52-week low of $7.21 and a 52-week high of $13.14.

Institutional Investors Weigh In On Ecopetrol

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EC. Straight Path Wealth Management raised its holdings in Ecopetrol by 7.4% in the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 1,000 shares during the period. Creative Planning increased its holdings in shares of Ecopetrol by 2.7% in the second quarter. Creative Planning now owns 46,864 shares of the oil and gas company’s stock worth $524,000 after acquiring an additional 1,219 shares in the last quarter. Blue Trust Inc. raised its position in shares of Ecopetrol by 258.6% during the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,945 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Ecopetrol by 58.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,355 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Ecopetrol in the 2nd quarter valued at approximately $27,000.

About Ecopetrol

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.