BidaskClub upgraded shares of Ecopetrol S.A. (NYSE:EC) from a strong sell rating to a sell rating in a report released on Saturday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Ecopetrol from a hold rating to a buy rating and set a $10.00 price objective for the company in a report on Tuesday, July 11th. ValuEngine upgraded Ecopetrol from a hold rating to a buy rating in a report on Wednesday, August 2nd. HSBC Holdings plc upgraded Ecopetrol from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Monday, June 5th. TheStreet upgraded Ecopetrol from a d+ rating to a c rating in a report on Wednesday, May 17th. Finally, Morgan Stanley downgraded Ecopetrol from an overweight rating to an equal weight rating and decreased their price objective for the stock from $9.40 to $8.00 in a report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $10.25.
Shares of Ecopetrol (NYSE EC) traded up 0.43% during mid-day trading on Friday, hitting $9.24. 2,121,770 shares of the stock were exchanged. The stock’s 50 day moving average price is $9.17 and its 200-day moving average price is $9.23. Ecopetrol has a 12-month low of $7.65 and a 12-month high of $10.36. The stock has a market capitalization of $19.00 billion, a P/E ratio of 16.50 and a beta of 1.05.
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Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Ecopetrol by 16.5% in the second quarter. Renaissance Technologies LLC now owns 6,262,700 shares of the oil and gas company’s stock worth $56,928,000 after buying an additional 887,100 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Ecopetrol by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 3,970,350 shares of the oil and gas company’s stock worth $37,003,000 after buying an additional 47,901 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ecopetrol by 5.6% in the second quarter. Vanguard Group Inc. now owns 3,319,861 shares of the oil and gas company’s stock worth $30,178,000 after buying an additional 175,934 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Ecopetrol by 4.7% in the first quarter. Parametric Portfolio Associates LLC now owns 1,844,893 shares of the oil and gas company’s stock worth $17,194,000 after buying an additional 82,540 shares in the last quarter. Finally, Harding Loevner LP boosted its stake in Ecopetrol by 16.3% in the second quarter. Harding Loevner LP now owns 1,064,010 shares of the oil and gas company’s stock worth $9,672,000 after buying an additional 149,300 shares in the last quarter. 2.20% of the stock is currently owned by hedge funds and other institutional investors.
About Ecopetrol
Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
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