Ecopetrol S.A. (NYSE:EC) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Ecopetrol has a consensus “Hold” rating among eight analysts: six holds, one sell and one strong buy. The average 12-month price target is $15.34, below the stock’s reported $17.81 opening price.
• The company reported quarterly revenue of $11.72 billion and earnings of $0.86 per share, with analysts forecasting full-year EPS of $2.51. Ecopetrol’s stock has traded between $9.10 and $18.38 over the past year.
• Several institutional investors increased their Ecopetrol holdings during the third quarter, including TD Waterhouse Canada, which boosted its position by 171.8%, and CWA Asset Management Group, which increased its stake by 11%.

Shares of Ecopetrol S.A. (NYSE:EC - Get Free Report) have received a consensus recommendation of "Hold" from the eight analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.34.

A number of equities research analysts recently commented on EC shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.70 target price on shares of Ecopetrol in a research report on Wednesday, October 7th. UBS Group increased their price target on shares of Ecopetrol from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Weiss Ratings raised shares of Ecopetrol from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 24th. Wall Street Zen upgraded shares of Ecopetrol from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Finally, Zacks Research raised shares of Ecopetrol from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th.

Ecopetrol Stock Performance

Shares of EC opened at $17.81 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.24 and a current ratio of 1.51. The stock has a 50-day moving average of $17.23 and a two-hundred day moving average of $15.82. The stock has a market cap of $36.62 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.82 and a beta of 0.46. Ecopetrol has a one year low of $9.10 and a one year high of $18.38.

Ecopetrol (NYSE:EC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. Ecopetrol had a return on equity of 14.50% and a net margin of 11.46%. The business had revenue of $11.72 billion for the quarter. As a group, research analysts predict that Ecopetrol will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Focused Alpha LLC purchased a new stake in Ecopetrol in the third quarter valued at $334,000. CWA Asset Management Group LLC grew its position in Ecopetrol by 11.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 343,173 shares of the oil and gas company's stock worth $5,655,000 after purchasing an additional 33,883 shares during the period. TD Waterhouse Canada Inc. grew its position in Ecopetrol by 171.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 86,645 shares of the oil and gas company's stock worth $1,410,000 after purchasing an additional 54,767 shares during the period. GAMMA Investing LLC raised its stake in shares of Ecopetrol by 5.1% during the 3rd quarter. GAMMA Investing LLC now owns 36,835 shares of the oil and gas company's stock valued at $607,000 after buying an additional 1,798 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Ecopetrol by 10.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,347 shares of the oil and gas company's stock valued at $105,000 after buying an additional 599 shares during the last quarter.

About Ecopetrol

Ecopetrol SA is a Colombia-based integrated energy company engaged in the exploration, production, transportation, refining and marketing of crude oil, natural gas and refined petroleum products. Its operations also include petrochemicals, biofuels and related energy services.

The company operates across Colombia's oil and gas value chain, including upstream exploration and production, pipeline transportation, storage, refining and fuel distribution. Through its corporate group and strategic investments, Ecopetrol also has activities in international markets, including the United States, Brazil and Peru.

Founded in 1951 and headquartered in Bogotá, Ecopetrol is majority-owned by the Colombian government and is one of the country's largest energy companies.

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