Ecopetrol (NYSE:EC) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Ecopetrol shares moved above their 200-day moving average on Thursday, trading as high as $15.42 and last changing hands around $15.38.
• Analyst sentiment remains cautious: most firms rate the stock Hold, with MarketBeat showing a consensus rating of "Reduce" and an average price target of $13.14.
• The company reported $0.50 EPS in its last quarterly update, and analysts expect 2.02 EPS for the current fiscal year; Ecopetrol also has a market cap of about $31.61 billion.

Ecopetrol S.A. (NYSE:EC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.40 and traded as high as $15.42. Ecopetrol shares last traded at $15.3780, with a volume of 2,895,121 shares traded.

Wall Street Analyst Weigh In

Several research analysts have commented on EC shares. Wall Street Zen raised Ecopetrol from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Weiss Ratings raised Ecopetrol from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 29th. UBS Group raised their price objective on Ecopetrol from $13.50 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Citigroup cut Ecopetrol from a "buy" rating to a "neutral" rating and upped their target price for the company from $14.00 to $18.00 in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Ecopetrol from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, June 1st. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $13.14.

Ecopetrol Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93. The company has a 50 day simple moving average of $14.71 and a 200-day simple moving average of $13.40. The stock has a market capitalization of $31.61 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.45.

Ecopetrol (NYSE:EC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.50 EPS for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. As a group, equities research analysts expect that Ecopetrol S.A. will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently bought and sold shares of EC. Envestnet Asset Management Inc. bought a new position in Ecopetrol in the second quarter worth approximately $93,000. Marshall Wace LLP bought a new stake in shares of Ecopetrol during the second quarter valued at approximately $333,000. Jump Financial LLC acquired a new position in shares of Ecopetrol during the second quarter worth approximately $324,000. AXA S.A. bought a new position in shares of Ecopetrol in the 2nd quarter worth $271,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ecopetrol by 9.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company's stock worth $10,534,000 after purchasing an additional 102,505 shares in the last quarter.

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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