Ecopetrol S.A. (NYSE:EC) Receives Average Rating of “Hold” from Brokerages

Shares of Ecopetrol S.A. (NYSE:EC) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, Marketbeat Ratings reports. One equities research 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 price target among analysts that have issued ratings on the stock in the last year is $10.7333.

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

Hedge Funds Weigh In On Ecopetrol

Several institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC bought a new stake in shares of Ecopetrol during the 2nd quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in Ecopetrol in the 3rd quarter worth approximately $40,000. Straight Path Wealth Management acquired a new stake in Ecopetrol in the 3rd quarter worth approximately $92,000. Envestnet Asset Management Inc. bought a new stake in Ecopetrol during the second quarter worth approximately $93,000. Finally, Metis Global Partners LLC acquired a new position in Ecopetrol during the second quarter valued at approximately $104,000.

Ecopetrol Trading Up 1.4%

NYSE EC opened at $9.62 on Friday. Ecopetrol has a 1-year low of $7.48 and a 1-year high of $11.05. The company has a market capitalization of $19.77 billion, a PE ratio of 7.34 and a beta of 0.68. The firm’s fifty day simple moving average is $9.65 and its 200-day simple moving average is $9.26.

About Ecopetrol

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.