Ecopetrol (NYSE:EC) Cut to Hold at StockNews.com

Ecopetrol (NYSE:EC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $7.50 to $9.50 in a research report on Thursday, February 13th. Citigroup upgraded Ecopetrol from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $14.00 in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ecopetrol presently has an average rating of “Hold” and a consensus target price of $11.00.

Ecopetrol Stock Performance

Shares of EC stock traded up $0.24 during trading hours on Monday, reaching $10.37. 1,731,841 shares of the company’s stock were exchanged, compared to its average volume of 2,277,357. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 1.38. Ecopetrol has a 1 year low of $7.21 and a 1 year high of $12.90. The company has a market cap of $21.31 billion, a P/E ratio of 4.96 and a beta of 1.22. The company’s 50 day moving average is $9.46 and its two-hundred day moving average is $8.72.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EC. Lindbrook Capital LLC lifted its position in shares of Ecopetrol by 317.5% during the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 3,638 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in Ecopetrol during the 4th quarter worth approximately $44,000. Blue Trust Inc. grew its position in shares of Ecopetrol by 33.5% in the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 2,128 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ecopetrol in the 4th quarter valued at approximately $86,000. Finally, Signaturefd LLC raised its position in shares of Ecopetrol by 13.1% during the 4th quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 1,271 shares in the last quarter.

Ecopetrol Company Profile

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.