StockNews.com Downgrades Ecopetrol (NYSE:EC) to Hold

Ecopetrol (NYSE:EC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their price target on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reduced their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.50.

Ecopetrol Stock Up 0.8 %

EC stock opened at $8.04 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21. The stock has a market capitalization of $16.53 billion, a P/E ratio of 3.54 and a beta of 1.21. Ecopetrol has a fifty-two week low of $7.21 and a fifty-two week high of $13.14. The business has a 50-day moving average of $8.28 and a 200-day moving average of $9.99.

Institutional Investors Weigh In On Ecopetrol

Large investors have recently made changes to their positions in the stock. Straight Path Wealth Management increased its holdings in Ecopetrol by 7.4% during the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company’s stock worth $163,000 after buying an additional 1,000 shares during the last quarter. Creative Planning grew its position in shares of Ecopetrol by 2.7% in the 2nd quarter. Creative Planning now owns 46,864 shares of the oil and gas company’s stock valued at $524,000 after acquiring an additional 1,219 shares during the period. Blue Trust Inc. increased its stake in shares of Ecopetrol by 258.6% during the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,945 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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, Ridgewood Investments LLC acquired a new stake in Ecopetrol in the 2nd quarter valued at about $27,000.

About Ecopetrol

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.