Ecopetrol S.A. (NYSE:EC) Receives $10.35 Consensus Target Price from Analysts

Ecopetrol S.A. (NYSE:EC) has received a consensus recommendation of “Reduce” from the five analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.35.

A number of analysts have commented on the stock. Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. 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. Wall Street Zen raised Ecopetrol from a “hold” rating to a “buy” rating in a research report on Saturday. Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the stock an “underperform” rating in a research note on Wednesday, February 4th. Finally, HSBC upgraded Ecopetrol to a “hold” rating in a research report on Thursday, March 12th.

Hedge Funds Weigh In On Ecopetrol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new position in Ecopetrol during the second quarter worth $25,000. ORG Partners LLC lifted its position in shares of Ecopetrol by 301.3% in the fourth quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,928 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Ecopetrol by 221.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after buying an additional 2,685 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Ecopetrol during the 3rd quarter worth about $40,000. Finally, Inspire Investing LLC bought a new stake in shares of Ecopetrol during the 4th quarter worth about $88,000.

Ecopetrol Price Performance

Shares of EC opened at $14.12 on Friday. The stock’s fifty day moving average is $12.27 and its 200-day moving average is $10.48. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 11.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.30 and a current ratio of 1.55. Ecopetrol has a one year low of $7.80 and a one year high of $14.29.

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.