Ecopetrol (NYSE:EC) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ecopetrol from a "hold" to a buy, though the MarketBeat consensus remains a Hold with an average target price of $10.35 (analyst mix: 1 Strong Buy, 3 Holds, 1 Sell).
• EC stock opened at $13.79 and was trading down about 4.5%, with a market capitalization of $28.34 billion, a P/E of 11.58 and a 1‑year range of $7.80–$15.62.
• Ecopetrol reported quarterly EPS of $0.20 on $7.64 billion in revenue, and analysts expect about 1.13 EPS for the current fiscal year.

Ecopetrol (NYSE:EC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other research analysts also recently weighed in on the company. HSBC upgraded Ecopetrol to a "hold" rating in a research note on Thursday, March 12th. Weiss Ratings upgraded Ecopetrol from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, February 17th. Bradesco Corretora set a $12.00 target price on Ecopetrol and gave the stock an "underperform" rating in a report on Wednesday, February 4th. Finally, Zacks Research raised Ecopetrol from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.35.

Ecopetrol Trading Down 4.5%

EC stock opened at $13.79 on Friday. Ecopetrol has a 1-year low of $7.80 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. The company has a market capitalization of $28.34 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.93 and a beta of 0.49. The business has a 50 day simple moving average of $13.64 and a two-hundred day simple moving average of $11.50.

Ecopetrol (NYSE:EC - Get Free Report) last posted 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 return on equity of 10.89% and a net margin of 7.64%.The business had revenue of $7.64 billion during the quarter. Research analysts anticipate that Ecopetrol will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EC. Smartleaf Asset Management LLC bought a new position in shares of Ecopetrol during the 2nd quarter valued at approximately $25,000. ORG Partners LLC boosted its position in shares of Ecopetrol by 301.3% during the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 1,928 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 2,685 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Ecopetrol during the 3rd quarter valued at approximately $40,000. Finally, Inspire Investing LLC bought a new position in shares of Ecopetrol during the 4th quarter valued at approximately $88,000.

Ecopetrol Company Profile

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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