Ecopetrol (NYSE:EC) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ecopetrol from buy to hold, adding to a mostly neutral analyst backdrop. MarketBeat says the stock’s consensus rating is now Hold with an average price target of $11.40.
• Ecopetrol shares fell 2.7% and opened at $12.65. The stock has a market cap of $26.0 billion, a P/E of 10.63, and has traded between $8.10 and $15.62 over the past year.
• The company recently reported $0.20 EPS on $7.64 billion in quarterly revenue, with a 7.64% net margin and 10.89% return on equity. Analysts currently expect Ecopetrol to earn about 2.4 EPS for the full year.

Ecopetrol (NYSE:EC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Ecopetrol from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. UBS Group boosted their target price on shares of Ecopetrol from $10.00 to $13.50 and gave the stock a "neutral" rating in a report on Tuesday. Bradesco Corretora set a $12.00 price target on shares of Ecopetrol and gave the company an "underperform" rating in a report on Wednesday, February 4th. Weiss Ratings upgraded shares of Ecopetrol from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 17th. Finally, HSBC raised shares of Ecopetrol to a "hold" rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ecopetrol has an average rating of "Hold" and a consensus price target of $11.40.

Ecopetrol Trading Down 2.7%

Shares of Ecopetrol stock opened at $12.65 on Friday. The company's fifty day simple moving average is $13.84 and its 200-day simple moving average is $11.77. The stock has a market capitalization of $26.00 billion, a PE ratio of 10.63, a P/E/G ratio of 0.62 and a beta of 0.46. Ecopetrol has a 1-year low of $8.10 and a 1-year high of $15.62. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.55 and a quick ratio of 1.30.

Ecopetrol (NYSE:EC - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.20 earnings per share for the quarter. Ecopetrol had a net margin of 7.64% and a return on equity of 10.89%. The business had revenue of $7.64 billion for the quarter. As a group, equities analysts anticipate that Ecopetrol will post 2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EC. Parallel Advisors LLC increased its stake in Ecopetrol by 34.8% during the 1st quarter. Parallel Advisors LLC now owns 7,890 shares of the oil and gas company's stock valued at $118,000 after purchasing an additional 2,038 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Ecopetrol in the first quarter worth $926,000. Sigma Planning Corp purchased a new stake in Ecopetrol during the first quarter worth $250,000. Principal Financial Group Inc. boosted its holdings in Ecopetrol by 32.7% during the first quarter. Principal Financial Group Inc. now owns 24,221 shares of the oil and gas company's stock worth $363,000 after buying an additional 5,962 shares in the last quarter. Finally, LGT Fund Management Co Ltd. purchased a new stake in Ecopetrol during the first quarter worth $150,000.

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.

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