Ecopetrol SA (EC) Sees Large Volume Increase
Shares of Ecopetrol SA (NYSE:EC) saw strong trading volume on Thursday . 1,189,320 shares traded hands during mid-day trading, an increase of 24% from the previous session’s volume of 957,276 shares.The stock last traded at $9.29 and had previously closed at $9.11.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ecopetrol SA from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Morgan Stanley upgraded shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.50 to $9.50 in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.13.
The company has a 50-day moving average of $9.44 and a 200-day moving average of $8.32. The stock’s market capitalization is $19.06 billion.
A number of large investors recently added to or reduced their stakes in the company. Bailard Inc. bought a new stake in Ecopetrol SA during the fourth quarter valued at approximately $3,435,000. Aberdeen Asset Management PLC UK raised 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 worth $3,084,000 after buying an additional 8,600 shares during the period. Morgan Stanley raised 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 worth $1,586,000 after buying an additional 88,426 shares during the period. Nationwide Fund Advisors acquired a new position in shares of Ecopetrol SA during the fourth quarter worth about $3,435,000. Finally, Advisors Asset Management Inc. raised its position in shares of Ecopetrol SA by 12.8% in the fourth quarter. Advisors Asset Management Inc. now owns 240,997 shares of the company’s stock worth $1,689,000 after buying an additional 27,358 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.