Ecopetrol (NYSE:EC) PT Raised to $11.90 at The Goldman Sachs Group

Ecopetrol (NYSE:EC) had its target price upped by equities researchers at The Goldman Sachs Group from $10.30 to $11.90 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 3.43% from the company’s current price.

Several other brokerages have also recently weighed in on EC. JPMorgan Chase & Co. reduced their target price on shares of Ecopetrol from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Morgan Stanley cut shares of Ecopetrol from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $8.50 in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.27.

Ecopetrol Trading Up 1.5 %

Shares of NYSE EC opened at $11.51 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.47. The stock’s 50-day moving average is $11.48 and its two-hundred day moving average is $11.88. Ecopetrol has a 1-year low of $8.59 and a 1-year high of $13.14.

Hedge Funds Weigh In On Ecopetrol

Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in shares of Ecopetrol during the first quarter worth approximately $47,000. Sunbelt Securities Inc. acquired a new position in Ecopetrol in the first quarter valued at $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Ecopetrol by 2,285.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,491 shares of the oil and gas company’s stock valued at $77,000 after buying an additional 7,177 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Ecopetrol during the fourth quarter worth about $85,000. Finally, US Bancorp DE grew its holdings in shares of Ecopetrol by 250.3% during the fourth quarter. US Bancorp DE now owns 8,011 shares of the oil and gas company’s stock worth $95,000 after buying an additional 5,724 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.