Ecopetrol Target of Unusually Large Options Trading (NYSE:EC)

Ecopetrol S.A. (NYSE:EC) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 24,709 call options on the stock. This is an increase of approximately 1,585% compared to the typical daily volume of 1,466 call options.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. Bradesco Corretora set a $12.00 target price on Ecopetrol and gave the company an “underperform” rating in a report on Wednesday, February 4th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $8.70 price objective on shares of Ecopetrol in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ecopetrol currently has a consensus rating of “Reduce” and an average price target of $10.35.

Ecopetrol Price Performance

NYSE:EC opened at $12.65 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.26. Ecopetrol has a one year low of $7.80 and a one year high of $13.27. The company has a fifty day moving average price of $11.36 and a 200 day moving average price of $10.07. The stock has a market cap of $26.00 billion, a P/E ratio of 10.63 and a beta of 0.63.

Hedge Funds Weigh In On Ecopetrol

Large investors have recently added to or reduced their stakes in the company. Stokes Family Office LLC raised its holdings in shares of Ecopetrol by 25.2% in the 2nd quarter. Stokes Family Office LLC now owns 212,808 shares of the oil and gas company’s stock worth $1,883,000 after buying an additional 42,819 shares in the last quarter. Oaktree Capital Management LP grew its position in Ecopetrol by 12.3% in 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 during the period. Capital Fund Management S.A. raised its stake in Ecopetrol by 529.6% during the second quarter. Capital Fund Management S.A. now owns 165,697 shares of the oil and gas company’s stock worth $1,466,000 after acquiring an additional 139,381 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Ecopetrol during the second quarter worth $2,236,000. Finally, Empirical Finance LLC lifted its holdings in shares of Ecopetrol by 73.9% during the second quarter. Empirical Finance LLC now owns 300,866 shares of the oil and gas company’s stock valued at $2,663,000 after acquiring an additional 127,856 shares during the period.

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.