Ecopetrol (NYSE:EC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ecopetrol (NYSE:EC) from a hold rating to a buy rating in a research report sent to investors on Monday.

EC has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ecopetrol currently has a consensus rating of “Hold” and an average target price of $8.50.

Ecopetrol Price Performance

Shares of EC opened at $8.17 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $13.14. The stock has a market capitalization of $16.79 billion, a P/E ratio of 3.60 and a beta of 1.21. The company has a 50 day moving average of $8.42 and a 200-day moving average of $10.16.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds have recently added to or reduced their stakes in EC. MQS Management LLC bought a new stake in shares of Ecopetrol during the 1st quarter worth about $125,000. Earnest Partners LLC increased its stake in shares of Ecopetrol by 1.2% during the first quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company’s stock worth $6,048,000 after purchasing an additional 5,844 shares during the period. Cetera Advisors LLC acquired a new stake in Ecopetrol during the 1st quarter worth approximately $141,000. GAMMA Investing LLC boosted its stake in Ecopetrol by 58.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,355 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Ecopetrol in the 2nd quarter valued at $1,890,000.

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.