Ecopetrol (NYSE:EC) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Ecopetrol S.A. (NYSE:EC)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.72 and traded as high as $12.65. Ecopetrol shares last traded at $12.4250, with a volume of 4,410,461 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EC shares. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings cut Ecopetrol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $8.70 target price on shares of Ecopetrol in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.73.

Ecopetrol Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.26. The firm has a market cap of $25.54 billion, a P/E ratio of 10.44 and a beta of 0.63. The stock’s 50 day moving average is $10.72 and its two-hundred day moving average is $9.72.

Institutional Trading of Ecopetrol

Institutional investors have recently bought and sold shares of the stock. Oaktree Capital Management LP raised its stake in Ecopetrol by 12.3% during the second quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock worth $31,416,000 after acquiring an additional 387,700 shares in the last quarter. Fundamenta Capital S.A. bought a new stake in shares of Ecopetrol in the 4th quarter worth about $20,135,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ecopetrol by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock worth $10,534,000 after purchasing an additional 102,505 shares in the last quarter. Candriam S.C.A. bought a new position in Ecopetrol during the 2nd quarter valued at about $7,443,000. Finally, Militia Capital Partners LP boosted its position in Ecopetrol by 16.1% in the second quarter. Militia Capital Partners LP now owns 556,200 shares of the oil and gas company’s stock valued at $4,922,000 after buying an additional 77,000 shares in the last quarter.

Ecopetrol Company Profile

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.