Ecopetrol (NYSE:EC) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Ecopetrol (NYSE:EC) from a buy rating to a hold rating in a research note published on Tuesday.

A number of other brokerages have also recently issued reports on EC. The Goldman Sachs Group lowered their price objective on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $8.50.

Ecopetrol Trading Down 1.5 %

NYSE EC opened at $7.98 on Tuesday. The firm has a market capitalization of $16.41 billion, a PE ratio of 3.52 and a beta of 1.21. The stock’s 50 day moving average is $8.31 and its 200 day moving average is $10.01. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $13.14. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00.

Hedge Funds Weigh In On Ecopetrol

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of Ecopetrol in the second quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings in Ecopetrol by 258.6% in the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,945 shares during the period. GAMMA Investing LLC increased its stake in Ecopetrol by 58.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock worth $72,000 after buying an additional 2,355 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Ecopetrol in the 1st quarter worth $141,000. Finally, Straight Path Wealth Management raised its holdings in Ecopetrol by 7.4% during the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 1,000 shares during the period.

About Ecopetrol

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.