Ecopetrol S.A. (NYSE:EC) Receives $10.73 Consensus PT from Brokerages

by · The Cerbat Gem

Shares of Ecopetrol S.A. (NYSE:EC – Get Free Report) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.7333.

EC has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Ecopetrol in a research report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $8.70 price target on shares of Ecopetrol in a research report on Monday, December 1st. Finally, Zacks Research upgraded Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th.

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Ecopetrol Stock Performance

EC stock opened at $10.02 on Friday. The firm has a 50 day simple moving average of $9.76 and a 200 day simple moving average of $9.28. Ecopetrol has a 52 week low of $7.68 and a 52 week high of $11.05. The stock has a market cap of $20.60 billion, a P/E ratio of 7.65 and a beta of 0.65.

Hedge Funds Weigh In On Ecopetrol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd raised its position in shares of Ecopetrol by 0.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 253,797 shares of the oil and gas company’s stock valued at $2,337,000 after purchasing an additional 1,100 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in Ecopetrol by 7.1% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 21,180 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 1,400 shares during the period. St. Louis Financial Planners Asset Management LLC lifted its position in Ecopetrol by 11.3% during the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 19,494 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 1,986 shares during the last quarter. Sowell Financial Services LLC lifted its position in Ecopetrol by 21.8% during the 3rd quarter. Sowell Financial Services LLC now owns 13,968 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Smartleaf Asset Management LLC bought a new stake in Ecopetrol during the second quarter valued at about $25,000.

Ecopetrol Company Profile

(Get Free Report)

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.

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