Ecopetrol (NYSE:EC) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Ecopetrol (NYSE:EC) from a hold rating to a buy rating in a research report released on Monday morning.

A number of other research firms also recently issued reports on EC. 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. The Goldman Sachs Group reduced their price objective on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Ecopetrol Trading Up 1.4 %

NYSE EC opened at $8.19 on Monday. The company has a market cap of $16.84 billion, a P/E ratio of 3.61 and a beta of 1.21. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $13.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21. The company has a 50-day moving average of $8.37 and a 200-day moving average of $10.10.

Institutional Trading of Ecopetrol

Hedge funds have recently bought and sold shares of the company. Hilltop Holdings Inc. acquired a new stake in shares of Ecopetrol in the third quarter valued at approximately $458,000. Verition Fund Management LLC acquired a new stake in Ecopetrol in the 3rd quarter valued at approximately $1,061,000. BNP Paribas Financial Markets raised its stake in Ecopetrol by 61.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 56,783 shares of the oil and gas company’s stock valued at $507,000 after acquiring an additional 21,703 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ecopetrol by 81.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock worth $3,796,000 after acquiring an additional 190,293 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Ecopetrol in the third quarter worth $188,000.

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.