Ecopetrol SA (NYSE:EC) rose 3% during mid-day trading on Friday . The company traded as high as $8.92 and last traded at $8.88, with a volume of 224,118 shares trading hands. The stock had previously closed at $8.62.

EC has been the subject of a number of recent research reports. Morgan Stanley raised shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating and boosted their target price for the company 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 target price for the company in a research report on Thursday, July 7th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Ecopetrol SA has a consensus rating of “Hold” and an average target price of $9.83.

The firm has a 50 day moving average of $8.77 and a 200-day moving average of $8.86. The stock’s market capitalization is $18.36 billion.

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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