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

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

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

Ecopetrol Trading Down 2.7 %

Ecopetrol stock opened at $8.11 on Tuesday. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 3.57 and a beta of 1.21. The firm has a 50-day moving average of $8.33 and a 200-day moving average of $10.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21. Ecopetrol has a one year low of $7.21 and a one year high of $13.14.

Institutional Investors Weigh In On Ecopetrol

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in Ecopetrol by 18.8% during the third quarter. Tidal Investments LLC now owns 39,301 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 6,222 shares during the last quarter. Hilltop Holdings Inc. bought a new position in shares of Ecopetrol during the third quarter worth approximately $458,000. Verition Fund Management LLC acquired a new stake in Ecopetrol during the 3rd quarter worth approximately $1,061,000. BNP Paribas Financial Markets boosted its stake in Ecopetrol by 61.9% in 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 purchasing an additional 21,703 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ecopetrol by 81.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock valued at $3,796,000 after buying an additional 190,293 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.