Ecopetrol S.A. (EC) Lifted to “Buy” at ValuEngine

Ecopetrol S.A. (NYSE:EC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, August 2nd.

A number of other research analysts also recently issued reports on EC. Zacks Investment Research downgraded Ecopetrol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. TheStreet upgraded Ecopetrol from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Morgan Stanley downgraded Ecopetrol from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $9.40 to $8.00 in a research note on Wednesday, May 31st. HSBC Holdings plc upgraded Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, June 5th. Finally, BidaskClub downgraded Ecopetrol from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.25.

Ecopetrol (EC) traded up 0.22% during midday trading on Wednesday, hitting $9.14. The company had a trading volume of 818,674 shares. Ecopetrol has a 12 month low of $7.65 and a 12 month high of $10.36. The firm has a 50-day moving average price of $9.12 and a 200-day moving average price of $9.25. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 16.32 and a beta of 1.05.

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Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Ecopetrol by 20.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,222 shares of the oil and gas company’s stock worth $119,000 after buying an additional 2,214 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Ecopetrol during the first quarter worth $152,000. Nationwide Fund Advisors boosted its stake in Ecopetrol by 145.7% in the first quarter. Nationwide Fund Advisors now owns 403,400 shares of the oil and gas company’s stock worth $3,760,000 after buying an additional 239,200 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Ecopetrol by 53.6% in the first quarter. Acadian Asset Management LLC now owns 468,837 shares of the oil and gas company’s stock worth $4,369,000 after buying an additional 163,561 shares during the last quarter. Finally, 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 during the last quarter. 2.22% of the stock is owned by 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ecopetrol (NYSE:EC)

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