ValuEngine downgraded shares of Ecopetrol S.A. (NYSE:EC) from a buy rating to a hold rating in a report released on Tuesday, August 8th.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Ecopetrol from a hold rating to a strong sell rating in a research report on Tuesday, April 25th. TheStreet upgraded Ecopetrol from a d+ rating to a c rating in a research report on Wednesday, May 17th. Morgan Stanley cut Ecopetrol from an overweight rating to an equal weight rating and dropped their target price for the company from $9.40 to $8.00 in a research report on Wednesday, May 31st. HSBC Holdings plc upgraded Ecopetrol from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Monday, June 5th. Finally, BidaskClub cut Ecopetrol from a sell rating to a strong sell rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $10.25.
Ecopetrol (NYSE:EC) traded up 1.10% during trading on Tuesday, reaching $9.19. The company had a trading volume of 453,623 shares. The firm has a market capitalization of $18.89 billion, a P/E ratio of 16.41 and a beta of 1.05. Ecopetrol has a 52 week low of $7.65 and a 52 week high of $10.36. The stock has a 50 day moving average price of $9.15 and a 200 day moving average price of $9.24.
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A number of hedge funds and other institutional investors have recently modified their holdings of EC. Fox Run Management L.L.C. bought a new position in shares of Ecopetrol during the first quarter worth $152,000. Nationwide Fund Advisors raised its position in shares of Ecopetrol by 145.7% in the first quarter. Nationwide Fund Advisors now owns 403,400 shares of the oil and gas company’s stock worth $3,760,000 after buying an additional 239,200 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ecopetrol by 53.6% in the first quarter. Acadian Asset Management LLC now owns 468,837 shares of the oil and gas company’s stock worth $4,369,000 after buying an additional 163,561 shares in the last quarter. Russell Investments Group Ltd. raised its position in Ecopetrol by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 3,970,350 shares of the oil and gas company’s stock worth $37,003,000 after buying an additional 47,901 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in Ecopetrol by 22.3% in the first quarter. Wetherby Asset Management Inc. now owns 18,268 shares of the oil and gas company’s stock worth $170,000 after buying an additional 3,327 shares during the period. 2.20% of the stock is currently owned by hedge funds and other institutional investors.
Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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