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

Shares of Ecopetrol S.A. (NYSE:EC) have received an average rating of “Reduce” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.5667.

Several equities analysts recently commented on EC shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $8.70 price target on shares of Ecopetrol in a report on Monday, December 1st. Bradesco Corretora set a $12.00 price objective on shares of Ecopetrol and gave the stock an “underperform” rating in a research note on Wednesday, February 4th. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings downgraded shares of Ecopetrol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd.

Institutional Trading of Ecopetrol

Hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP raised its position 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 valued at $31,416,000 after acquiring an additional 387,700 shares in the last quarter. Fundamenta Capital S.A. acquired a new stake in shares of Ecopetrol during the 4th quarter worth approximately $20,135,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ecopetrol by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock valued at $14,107,000 after purchasing an additional 41,075 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ecopetrol by 9.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock valued at $10,534,000 after purchasing an additional 102,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Ecopetrol by 7.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock worth $9,375,000 after buying an additional 64,614 shares in the last quarter.

Ecopetrol Price Performance

Ecopetrol stock opened at $11.91 on Friday. The firm’s fifty day moving average is $11.06 and its 200 day moving average is $9.89. Ecopetrol has a 52-week low of $7.80 and a 52-week high of $13.27. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 10.00 and a beta of 0.63. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.

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.