Ecopetrol (NYSE:EC) Upgraded at StockNews.com

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

A number of other research firms have also commented on EC. JPMorgan Chase & Co. lowered their target price on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.50.

Ecopetrol Stock Up 0.4 %

NYSE EC opened at $8.08 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.48. Ecopetrol has a 52 week low of $7.21 and a 52 week high of $13.14. The stock has a market capitalization of $16.61 billion, a P/E ratio of 3.56 and a beta of 1.21. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $10.12.

Institutional Investors Weigh In On Ecopetrol

Institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Ecopetrol in the 2nd quarter valued at about $27,000. Blue Trust Inc. increased its holdings in Ecopetrol by 258.6% during the second 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 last quarter. GAMMA Investing LLC lifted its stake in Ecopetrol by 58.2% in the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 2,355 shares during the last quarter. MQS Management LLC acquired a new position in shares of Ecopetrol during the 1st quarter worth about $125,000. Finally, Cetera Advisors LLC acquired a new position in shares of Ecopetrol during the 1st quarter worth about $141,000.

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.