Ecopetrol SA (EC) Stock Price Down 3.7%
Shares of Ecopetrol SA (NYSE:EC) traded down 3.7% during mid-day trading on Wednesday . The company traded as low as $8.98 and last traded at $9.12, with a volume of 446,029 shares. The stock had previously closed at $9.47.
A number of analysts recently issued reports on the company. Morgan Stanley raised Ecopetrol SA from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $6.50 to $9.50 in a research report on Thursday, July 7th. Zacks Investment Research raised Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.13.
The company’s 50-day moving average price is $9.44 and its 200 day moving average price is $8.32. The stock’s market capitalization is $18.94 billion.
A number of hedge funds have recently bought and sold shares of the company. Bailard Inc. purchased a new stake in Ecopetrol SA during the fourth quarter worth approximately $3,435,000. Aberdeen Asset Management PLC UK increased its stake 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 worth $3,084,000 after buying an additional 8,600 shares during the last quarter. Morgan Stanley increased its stake in 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 last quarter. Nationwide Fund Advisors purchased a new stake in Ecopetrol SA during the fourth quarter worth approximately $3,435,000. Finally, Advisors Asset Management Inc. increased 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 worth $1,689,000 after buying an additional 27,358 shares during the last quarter.
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.