Ecopetrol S.A. (NYSE:EC) Given Average Rating of "Reduce" by Brokerages

Key Points

• Ecopetrol has an average analyst rating of "Reduce" from eight brokerages, with one sell and seven hold ratings. The average 12-month price target is $13.14.
• Recent analyst moves have been mostly cautious, including downgrades from Wall Street Zen, Citigroup, and Zacks Research. UBS also nudged its target price higher while keeping a neutral stance.
• The stock recently opened at $15.85, above the consensus price target, and the company reported $0.50 EPS in its latest quarter. Analysts expect Ecopetrol to earn 2.02 EPS for the current fiscal year.

Ecopetrol S.A. (NYSE:EC - Get Free Report) has been given an average rating of "Reduce" by the eight ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $13.14.

EC has been the subject of several analyst reports. Wall Street Zen cut Ecopetrol from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Citigroup lowered Ecopetrol from a "buy" rating to a "neutral" rating and raised their target price for the stock from $14.00 to $18.00 in a research report on Wednesday, June 3rd. UBS Group boosted their target price on Ecopetrol from $13.50 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Zacks Research downgraded Ecopetrol from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of Ecopetrol from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 29th.

Ecopetrol Price Performance

Ecopetrol stock opened at $15.85 on Friday. The stock has a market cap of $32.58 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.67 and a beta of 0.45. The company has a fifty day simple moving average of $14.93 and a 200-day simple moving average of $13.62. Ecopetrol has a 12-month low of $8.27 and a 12-month high of $17.75. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 0.93.

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

Institutional Trading of Ecopetrol

A number of large investors have recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new position in Ecopetrol in the 4th quarter valued at $991,000. Fundamenta Capital S.A. acquired a new stake in shares of Ecopetrol in the 4th quarter worth $20,135,000. Wealth High Governance Asset Management Ltda. acquired a new position in shares of Ecopetrol during the first quarter worth about $2,057,000. Principal Financial Group Inc. increased its stake in shares of 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 acquiring an additional 5,962 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in Ecopetrol during the first quarter worth about $839,000.

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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