Weiss Ratings Reaffirms Sell (D+) Rating for Ecopetrol (NYSE:EC)

Key Points

• Ecopetrol's stock has received a "sell (D+)" rating from Weiss Ratings, highlighting concerns about the company’s performance.
• Zacks Research has downgraded Ecopetrol from a "hold" to a "strong sell" rating, reflecting increasing skepticism among analysts.
• The company's stock has been relatively stable, currently priced at $9.04, with a market cap of $18.58 billion and an average consensus price target of $11.75.

Ecopetrol (NYSE:EC - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research lowered Ecopetrol from a "hold" rating to a "strong sell" rating in a research report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $11.75.

Ecopetrol Stock Performance

Shares of NYSE EC remained flat at $9.04 during midday trading on Wednesday. The stock had a trading volume of 1,598,632 shares, compared to its average volume of 1,836,232. Ecopetrol has a 1-year low of $7.21 and a 1-year high of $11.05. The company has a market cap of $18.58 billion, a P/E ratio of 6.90 and a beta of 0.83. The firm has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $8.98.

Institutional Trading of Ecopetrol

A number of institutional investors have recently bought and sold shares of EC. Smartleaf Asset Management LLC purchased a new stake in Ecopetrol during the second quarter worth $25,000. Blume Capital Management Inc. purchased a new stake in Ecopetrol during the first quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ecopetrol during the first quarter worth $46,000. Envestnet Asset Management Inc. purchased a new stake in Ecopetrol during the second quarter worth $93,000. Finally, Metis Global Partners LLC purchased a new stake in Ecopetrol during the second quarter worth $104,000.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.

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