Ecopetrol S.A. (NYSE:EC) Given Consensus Rating of "Reduce" by Analysts

Key Points

• Consensus "Reduce": Five analysts covering Ecopetrol give a consensus rating of Reduce (one sell, four hold) with an average 12‑month price target of $10.35.
• Shares opened at $13.86 with a market cap of $28.48 billion and a P/E of 11.64; the 52‑week range is $7.80–$14.07 and the 50/200‑day averages are $12.20 and $10.42.
• Coverage is mixed—Bradesco labeled it "underperform" ($12 target) and Goldman set an $8.70 target while Wall Street Zen upgraded to "buy"—and several institutional investors made only modest increases to their holdings recently.

Ecopetrol S.A. (NYSE:EC - Get Free Report) has received a consensus rating of "Reduce" from the five research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.35.

EC has been the subject of a number of recent analyst reports. Bradesco Corretora set a $12.00 price target on Ecopetrol and gave the company an "underperform" rating in a research report on Wednesday, February 4th. HSBC upgraded Ecopetrol to a "hold" rating in a report on Thursday. The Goldman Sachs Group reissued a "neutral" rating and issued a $8.70 target price on shares of Ecopetrol in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Ecopetrol from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Ecopetrol from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 17th.

Institutional Trading of Ecopetrol

Several hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its holdings in Ecopetrol by 0.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 253,797 shares of the oil and gas company's stock valued at $2,337,000 after buying an additional 1,100 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Ecopetrol by 7.1% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 21,180 shares of the oil and gas company's stock worth $195,000 after acquiring an additional 1,400 shares in the last quarter. ORG Partners LLC boosted its stake 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 worth $26,000 after acquiring an additional 1,928 shares in the last quarter. St. Louis Financial Planners Asset Management LLC increased its holdings in shares of Ecopetrol by 11.3% during the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 19,494 shares of the oil and gas company's stock valued at $180,000 after acquiring an additional 1,986 shares during the last quarter. Finally, Ping Capital Management Inc. increased its holdings in shares of Ecopetrol by 5.1% during the 4th quarter. Ping Capital Management Inc. now owns 41,000 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 2,000 shares during the last quarter.

Ecopetrol Price Performance

Shares of NYSE EC opened at $13.86 on Friday. The stock has a market cap of $28.48 billion, a P/E ratio of 11.64 and a beta of 0.64. The firm's 50-day simple moving average is $12.20 and its 200 day simple moving average is $10.42. Ecopetrol has a fifty-two week low of $7.80 and a fifty-two week high of $14.07. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.91.

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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