Ecopetrol SA (NYSE:EC)’s share price was down 3.7% during mid-day trading on Wednesday . The stock traded as low as $8.98 and last traded at $9.12, with a volume of 446,029 shares trading hands. The stock had previously closed at $9.47.

Several equities analysts have recently issued reports on EC shares. Zacks Investment Research downgraded shares of Ecopetrol SA from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Morgan Stanley raised shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $6.50 to $9.50 in a research note on Thursday, July 7th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.13.

The stock’s market capitalization is $18.73 billion. The firm has a 50 day moving average of $9.41 and a 200-day moving average of $8.31.

A number of institutional investors recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its position 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 in the last quarter. Bailard Inc. bought a new position in Ecopetrol SA during the fourth quarter valued at about $3,435,000. Aberdeen Asset Management PLC UK boosted its position in 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 in the last quarter. Morgan Stanley boosted its position in 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 in the last quarter. Finally, Nationwide Fund Advisors bought a new position in 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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