Ecopetrol SA (EC) Sees Large Volume Increase
Ecopetrol SA (NYSE:EC) saw unusually-high trading volume on Thursday . Approximately 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.
EC has been the topic of a number of analyst reports. Morgan Stanley raised shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.50 to $9.50 in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock 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. Ecopetrol SA has a consensus rating of “Hold” and an average price target of $9.13.
The firm has a 50 day moving average of $9.44 and a 200-day moving average of $8.34. The company’s market cap is $19.04 billion.
Other hedge funds and institutional investors recently made changes to their positions in the company. 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 valued at $1,689,000 after buying an additional 27,358 shares during the period. Bailard Inc. bought a new position in shares of Ecopetrol SA during the fourth quarter valued at $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 valued at $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 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 $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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