Ecopetrol (NYSE:EC) Sets New 52-Week High - Should You Buy?

Key Points

• Ecopetrol shares reached a new 52-week high, trading around $18.30 and rising 2.4%, above their 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a consensus price target of $13.54.
• The company reported $0.86 in quarterly EPS on $11.72 billion in revenue, with an 11.46% net margin and 18.16% return on equity; several institutional investors also established new positions.

Ecopetrol S.A. (NYSE:EC - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $18.20 and last traded at $18.30, with a volume of 401481 shares trading hands. The stock had previously closed at $17.74.

Analyst Ratings Changes

A number of analysts recently issued reports on EC shares. JPMorgan Chase & Co. increased their price target on shares of Ecopetrol from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. Zacks Research upgraded shares of Ecopetrol from a "strong sell" rating to a "hold" rating in a research report on Friday, September 4th. Citigroup lowered shares of Ecopetrol from a "buy" rating to a "neutral" rating and increased their target price for the stock from $14.00 to $18.00 in a research note on Wednesday, June 3rd. UBS Group raised their target price on Ecopetrol from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ecopetrol in a research note on Wednesday, August 26th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $13.54.

Ecopetrol Stock Up 2.4%

The business's 50 day moving average is $16.75 and its 200-day moving average is $15.15. The stock has a market cap of $37.34 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.32 and a beta of 0.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.30 and a current ratio of 1.55.

Ecopetrol (NYSE:EC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. Ecopetrol had a net margin of 11.46% and a return on equity of 18.16%. The company had revenue of $11.72 billion during the quarter. On average, sell-side analysts predict that Ecopetrol S.A. will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecopetrol

Institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Ecopetrol during the 1st quarter worth $6,542,000. Renaissance Technologies LLC acquired a new stake in shares of Ecopetrol in the first quarter valued at about $3,583,000. Wealth High Governance Capital Ltda acquired a new position in Ecopetrol during the first quarter worth about $2,417,000. Wealth High Governance Asset Management Ltda. acquired a new position in Ecopetrol during the first quarter worth about $2,057,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Ecopetrol during the 1st quarter valued at about $1,948,000.

Ecopetrol Company Profile

Ecopetrol SA is an integrated energy company based in Colombia and one of the country's principal producers of oil and natural gas. Its activities include exploration and production of hydrocarbons, crude oil and fuel transportation, refining, petrochemicals, and the distribution and marketing of petroleum products and natural gas.

The company operates through a broad energy infrastructure network that includes pipelines, storage facilities, refineries, ports, and other midstream assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.