Ecopetrol (NYSE:EC) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ecopetrol (NYSE:EC) from an underweight rating to a neutral rating in a research report released on Thursday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $9.50 price objective on the oil and gas company’s stock, up from their prior price objective of $7.50.

Separately, StockNews.com cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.17.

Ecopetrol Trading Up 0.3 %

Shares of NYSE EC opened at $10.26 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $12.90. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 4.91 and a beta of 1.20. The business has a fifty day simple moving average of $8.57 and a 200-day simple moving average of $8.78.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EC. Lindbrook Capital LLC grew its position in Ecopetrol by 317.5% during the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 3,638 shares in the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Ecopetrol during the 4th quarter valued at $44,000. Blue Trust Inc. increased its stake in shares of Ecopetrol by 135.5% in the third quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 3,655 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ecopetrol during the fourth quarter worth $86,000. Finally, Signaturefd LLC boosted its position in Ecopetrol by 13.1% during the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 1,271 shares during 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.