Ecopetrol SA (EC) Sees Unusually-High Trading Volume
Shares of Ecopetrol SA (NYSE:EC) saw unusually-high trading volume on Wednesday . Approximately 911,253 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 1,020,897 shares.The stock last traded at $9.44 and had previously closed at $9.54.
EC has been the topic of several recent research reports. Morgan Stanley upgraded Ecopetrol SA from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $6.50 to $9.50 in a research report on Thursday, July 7th. Zacks Investment Research upgraded Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.13.
The firm has a 50-day moving average of $9.37 and a 200-day moving average of $8.24. The firm’s market cap is $19.49 billion.
Other large investors have added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Ecopetrol SA by 12.8% in the fourth quarter. Advisors Asset Management Inc. now owns 240,997 shares of the company’s stock valued at $1,689,000 after buying an additional 27,358 shares during the last quarter. Bailard Inc. bought a new position in shares of Ecopetrol SA during the fourth quarter valued at about $3,435,000. Aberdeen Asset Management PLC UK increased its position in shares of Ecopetrol SA by 2.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 324,700 shares of the company’s stock valued at $3,084,000 after buying an additional 8,600 shares during the period. Morgan Stanley increased its position in shares of Ecopetrol SA by 64.2% in the fourth quarter. Morgan Stanley now owns 226,252 shares of the company’s stock valued at $1,586,000 after buying an additional 88,426 shares during the period. Finally, Nationwide Fund Advisors bought a new position in shares of Ecopetrol SA during the fourth quarter valued at about $3,435,000.
Ecopetrol SA is an oil company. The Company’s business segments include Exploration and Production; Transportation and Logistics, and Refining, Petrochemicals, and Biofuels. The Exploration and Production business segment includes exploration, development and production activities in Colombia and abroad.
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