Ecopetrol SA (EC) Sees Large Volume Increase
Shares of Ecopetrol SA (NYSE:EC) saw an uptick in trading volume on Thursday . 828,138 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 1,046,421 shares.The stock last traded at $9.12 and had previously closed at $9.18.
A number of brokerages have commented on EC. Zacks Investment Research upgraded shares of Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday. Morgan Stanley upgraded shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.00.
The company’s market cap is $18.61 billion. The stock’s 50-day moving average is $9.34 and its 200-day moving average is $8.17.
Several institutional investors have added to or reduced their stakes in EC. Aberdeen Asset Management PLC UK boosted its position 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 in the last quarter. Advisors Asset Management Inc. boosted 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. Morgan Stanley boosted 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. BARING ASSET MANAGEMENT Ltd purchased a new position in shares of Ecopetrol SA during the fourth quarter worth approximately $3,372,000. Finally, Bailard Inc. purchased a new position in shares of Ecopetrol SA during the fourth quarter worth approximately $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.