Ecopetrol (NYSE:EC) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Ecopetrol shares rose above their 200-day moving average, trading as high as $18.02 and last changing hands at $17.914, compared with the $15.70 200-day average.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating, with one Strong Buy, six Holds and one Sell; the average price target is $15.34.
• The company reported quarterly EPS of $0.86 on $11.72 billion in revenue, with an 18.16% return on equity and 11.46% net margin. Several institutional investors, including Arrowstreet Capital and Renaissance Technologies, recently initiated positions.

Ecopetrol S.A. (NYSE:EC - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.70 and traded as high as $18.02. Ecopetrol shares last traded at $17.9140, with a volume of 1,833,057 shares.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $17.70 target price on shares of Ecopetrol in a report on Wednesday, October 7th. UBS Group boosted their target price on shares of Ecopetrol from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Weiss Ratings raised shares of Ecopetrol from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, September 24th. Zacks Research upgraded shares of Ecopetrol from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Ecopetrol from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Ecopetrol has an average rating of "Hold" and an average price target of $15.34.

Ecopetrol Trading Up 2.2%

The company has a 50 day moving average price of $17.17 and a 200-day moving average price of $15.70. The company has a market cap of $36.83 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.16 and a beta of 0.46.

Ecopetrol (NYSE:EC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The oil and gas company reported $0.86 EPS for the quarter. Ecopetrol had a return on equity of 18.16% and a net margin of 11.46%. The company had revenue of $11.72 billion during the quarter. Equities analysts expect that Ecopetrol S.A. will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

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

About Ecopetrol

Ecopetrol SA is an integrated energy company headquartered in Bogotá, Colombia, and one of the country's principal petroleum and natural gas producers. Its operations include the exploration, development and production of crude oil and natural gas, as well as the gathering, processing and commercialization of hydrocarbons.

The company also operates through businesses involved in crude oil and refined-product transportation, refining, petrochemicals and fuel distribution. Its refining activities include the Barrancabermeja refinery and the Cartagena refinery, while its transportation operations are conducted primarily through subsidiaries and affiliated infrastructure businesses.

Founded in 1951 as Empresa Colombiana de Petróleos, Ecopetrol has expanded beyond Colombia through international exploration and production activities and investments in energy infrastructure.

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