Ecopetrol (NYSE:EC) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Ecopetrol (NYSE:EC) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other brokerages have also recently commented on EC. The Goldman Sachs Group lowered their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. JPMorgan Chase & Co. dropped their target price on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $8.50.

Ecopetrol Stock Down 0.1 %

EC stock opened at $8.03 on Tuesday. The company has a market cap of $16.51 billion, a P/E ratio of 3.54 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $8.24 and its 200 day moving average price is $9.95. Ecopetrol has a 52 week low of $7.21 and a 52 week high of $13.14.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EC. Ridgewood Investments LLC acquired a new position in shares of Ecopetrol during the second quarter worth about $27,000. Blue Trust Inc. boosted 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 valued at $32,000 after buying an additional 1,945 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ecopetrol by 58.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 2,355 shares during the last quarter. Cetera Advisors LLC acquired a new position in Ecopetrol in the first quarter worth about $141,000. Finally, Straight Path Wealth Management grew its position in shares of Ecopetrol by 7.4% in the 2nd quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 1,000 shares in the last quarter.

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.