Ecopetrol SA (NYSE:EC)’s share price rose 3.4% during trading on Tuesday . The company traded as high as $8.78 and last traded at $8.76, with a volume of 797,762 shares traded. The stock had previously closed at $8.47.

A number of equities research 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 boosted 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 assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.13.

The firm has a 50 day moving average of $8.89 and a 200 day moving average of $8.65. The firm’s market cap is $18.63 billion.

A hedge fund recently raised its stake in Ecopetrol SA stock. Advisors Asset Management Inc. raised its position in shares of Ecopetrol SA (NYSE:EC) by 12.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 240,997 shares of the company’s stock after buying an additional 27,358 shares during the period. Advisors Asset Management Inc.’s holdings in Ecopetrol SA were worth $1,689,000 at the end of the most recent 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.

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