Ecopetrol (NYSE:EC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Ecopetrol (NYSE:EC) from a buy rating to a hold rating in a report published on Tuesday.

A number of other equities research analysts have also issued reports on EC. 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 for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $8.50.

Ecopetrol Stock Performance

Shares of NYSE:EC opened at $8.04 on Tuesday. 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 has a market capitalization of $16.53 billion, a price-to-earnings ratio of 3.54 and a beta of 1.21. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $13.14. The firm’s 50-day moving average is $8.26 and its 200 day moving average is $9.98.

Institutional Investors Weigh In On Ecopetrol

Institutional investors and hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of Ecopetrol during the second quarter valued at $27,000. Blue Trust Inc. raised its holdings in shares of Ecopetrol by 258.6% in the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,945 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Ecopetrol by 58.2% during the second 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 in the last quarter. Cetera Advisors LLC purchased a new position in Ecopetrol during the first quarter valued at approximately $141,000. Finally, Straight Path Wealth Management raised its stake in Ecopetrol by 7.4% in 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 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.