Ecopetrol (NYSE:EC) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Ecopetrol has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating negative sentiment around the stock.
• Additionally, Weiss Ratings has issued a "sell (d+)" rating for Ecopetrol, reflecting a broader consensus among analysts that the stock is underperforming.
• Despite the downgraded ratings, one analyst still rates Ecopetrol as a Buy, while the stock has a consensus rating of "Reduce" with an average target price of $11.75.

Ecopetrol (NYSE:EC - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Ecopetrol in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $11.75.

Ecopetrol Price Performance

Shares of EC opened at $9.05 on Monday. Ecopetrol has a one year low of $7.21 and a one year high of $11.05. The company has a market cap of $18.59 billion, a P/E ratio of 6.90 and a beta of 0.83. The firm has a 50 day simple moving average of $9.02 and a two-hundred day simple moving average of $8.98.

Institutional Trading of Ecopetrol

A number of institutional investors and hedge funds have recently bought and sold shares of EC. GAMMA Investing LLC increased its holdings in Ecopetrol by 66.6% in the first quarter. GAMMA Investing LLC now owns 26,113 shares of the oil and gas company's stock valued at $273,000 after purchasing an additional 10,440 shares during the period. Sowell Financial Services LLC bought a new stake in Ecopetrol during the first quarter valued at $116,000. Manning & Napier Advisors LLC boosted its position in Ecopetrol by 1.4% during the first quarter. Manning & Napier Advisors LLC now owns 158,452 shares of the oil and gas company's stock valued at $1,654,000 after acquiring an additional 2,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ecopetrol during the first quarter valued at $46,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Ecopetrol during the first quarter valued at $1,254,000.

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.

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